Posted On: April 23, 2010

Bankruptcy Audits

An "FYI" from a Sacramento Bankruptcy Attorney: Your Bankruptcy Can And Might Be Audited by the US Trustee...

Individuals who file for relief under Chapter 7 or Chapter 13 are subject to audits under the authority of the US Trustee. At least one out of 250 Chapter 7 and Chapter 13 cases will be randomly selected for audit. In addition, other cases will be selected for audit.

You are required to provide some additional information and records and cooperate with the audit firm hired by the US Trustee and provide this information promptly. There is no cost to you for the audit, except for the cost of making copies of documents needed for the audit. The information that you provide in connection with your case is subject to examination by the Attorney General.

The audit firm will file a report containing the results of the audit. A copy of the report will be provided to your attorney. If the audit firm finds material misstatements of income, expenses, or assets the Clerk of the Bankruptcy Court will notify your creditors.

Failure to cooperate with the audit firm or failure to reasonably explain to the bankruptcy court any material misstatements contained in the audit firm's report may result in the dismissal of your case or in the denial or revocation of your discharge, and, possibly in referral of the matter to the US Attorney for criminal investigation.

Audits are serious but if you’ve chosen the right attorney he’ll 1) have all the required documents, 2) submit a bankruptcy petition that’s consistent with your assets and liabilities, 3) list your income correctly, and 4) know what to expect because he or she had been through it before.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento and Roseville!


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