Bankruptcy Audit


WHAT IS A BANKRUPTCY AUDIT?

Posted on 05 15,2014
WHAT IS A BANKRUPTCY AUDIT?

Each and every year the U.S. Trustee's Office selects a number of bankruptcy cases, either at random or based on certain red flags, on which it is going to perform an audit. The reason it does these bankruptcy audits is to detect instances of fraud and seek out debtors who have not been truthful about their income, assets or other pieces of pertinent information. Hidden assets, false or misleading statements made to the bankruptcy court, and other discrepancies are what the appointed audit firm are looking to find. You will have a much greater chance of being able to avoid a bankruptcy audit, if you are completely honest when preparing your bankruptcy petition and during your hearings. Having a bankruptcy lawyer by your side to help guide you through the bankruptcy process will also lessen your chances of either being audited, or of having your case dismissed following an audit.

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