When you file bankruptcy, you must sign the papers "under penalty of perjury". By doing so, you swear that everything in them is true, including that your forms are a complete listing of all of your property, income, and debts. Filing incomplete or inaccurate bankruptcy forms could lead to your case being dismissed, or, as in a recent case here in Minnesota, the court refusing to let you claim your omitted assets as exempt when they come to light. In a worst case scenario the court could deny your discharge if if the court thinks you omitted information or made false statements intentionally.
If you accidentally leave something off your papers or misstate something, we can usually correct your papers . But if you leave out so many things that it appears that you were careless, the court could find that your actions demonstrate an "indifference to the truth" and can dismiss your case on that basis.
You must list everyone who claims that you owe them money -- even those creditors you believe you don't think you any money to. This would include pending lawsuits. In those cases the debt can be be listed as "contingent" or "disputed". When your bankruptcy is concluded, you will get a discharge and you will no longer owe any debts that have been discharged. If a debt listed as "disputed" debt is discharged, the (former) dispute will be irrelevant. The creditor will be legally barred from collecting from you regardless of who was right.
Also, do not leave out a "friendly creditor", such as a local business or a relative. You are always free to pay people back (after you file bankruptcy). However, leaving them out of the filing will mean, first, that your bankruptcy papers are not accurate and second, may give the omitted creditor an opportunity to come after you after the bankruptcy.
If you deliberately hide property, omit important information about your financial affairs, in a worst-case scenario you could be prosecuted criminally for bankruptcy fraud.
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