This morning I came across an interesting list on the Federal Bureau of Investigation website. It is essential that those of you preparing to file bankruptcy know the consequences of withholding significant information from your bankruptcy attorney and therefore the bankruptcy court. Here is an amended version of the FBI list. Please keep it in mind as you gather data for your bankruptcy case.

1. All creditors must be listed, even ones you intend to pay after filing.

2. Many assets are protected from being seized by the bankruptcy court, but only if listed. It is a crime not to list all property.

3. Part, or all, of any tax refund due for the tax year a bankruptcy case is filed may be required to be turned over to a bankruptcy trustee. Any refunds due for previous years may also be required to be turned over.

4. If you are self-employed you must list all personal and business debts, assets and income.

5. All income must be reported, including Social Security benefits, family support, alimony, unemployment, and pensions.

6. Intentionally incurring debts with the intent not to pay may be a crime.

7. You should maintain payments on all secured property you wish to keep that could be repossessed before filing. This includes house payments, car payments, furniture payments, equipment, and other items used as collateral.

8. The court may disallow a bankruptcy if you misrepresent any facts on the papers filed in bankruptcy court.

9. Bankruptcy stops all bill collectors. Creditors, including tax collectors, are barred from attempting to collect any debt from you the instant the petition is filed. This protection is permanent for all discharged debts. Bankruptcy does not stop any criminal proceeding or government regulatory proceeding.

10. Bankruptcy does not clear up a credit report. A bankruptcy may be reported on credit reports for 10 years.

11. You cannot dismiss a Chapter 7 case without court approval. You can voluntarily dismiss a Chapter 13 case anytime.

12. A secured creditor may add the attorney fees they incurred to the balance owed on the property. This may happen even if you are not behind on payments at the time of filing. Most mortgages and other loan documents allow for reasonable attorney fees and they will be added to the balance due on a loan.

13. Bankruptcy crimes carry a punishment by, among other things, up to 5 years imprisonment.

If you live in Denver, Aurora, Arvada, Brighton, Broomfield, Commerce City, Englewood, Highlands Ranch, Lakewood, Lafayette, Littleton, Northglenn, Westminster, Wheat Ridge, or Golden, Colorado, and have any questions regarding these issues, please contact me.   Kevin D. Heupel,         Colorado Bankruptcy attorney,       303-955-7570,      Colorado Bankruptcy Help Email, personal bankruptcy free-consultation form