No Hidden Asset Remains Out of Sight of Thorough Asset Investigations

Bankruptcy is a chance for underwater debtors to start from scratch. However, hidden assets make it complicated.

The Department of Justice estimates that 1 in 10 bankruptcy filings involve at least one kind of fraud, like concealment of assets. There are plenty of ways to hide assets, from misidentifying the item (i.e. mislabeling a diamond as a “cubic zirconia,” says one trustee) to keeping mum about other assets. The thought is tempting, especially in a volatile economy.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s