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    sylviawill's Avatar
    sylviawill Posts: 1, Reputation: 1
    New Member

    May 21, 2011, 01:00 PM
    Received an inheritance of 28,000 after filling for chapter 13, we did not report it,
    Received an inheritance of $28,000, after filling chapter 13. We did not disclose to our lawyer, and he has now found out and wants to drop us to chapter 7.. We want to keep our home. What should we do
    cdad's Avatar
    cdad Posts: 12,701, Reputation: 1438
    Internet Research Expert

    May 21, 2011, 01:15 PM

    Listen to your lawyer and pay what you owe. Is there something wrong or immoral in doing that ?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,302, Reputation: 7692

    May 21, 2011, 05:09 PM

    It is illegal and you can have the entire chapter 13 thrown out without the ability to file for many years if you do not report the income. Also by hiding it, there could even be criminal charges considered.
    cdad's Avatar
    cdad Posts: 12,701, Reputation: 1438
    Internet Research Expert

    May 21, 2011, 05:50 PM

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    sylviawill does not find this helpful : vague and dumb

    Considering your lawyer is trying to keep you out of trouble the advice wasn't vague at all. They were trying to keep you from this.

    Bankruptcy fraud carries a maximum penalty of $250,000 in fines, 5 years in jail and the debtor would also not receive a discharge of debts. Also, the government might prosecute a debtor for destruction, falsification of records in Federal investigations and bankruptcy and that carries a maximum sentence of 20 years. Depending on how many acts of fraud the debtor commits, he can also be prosecuted under the RICO (Racketeer Influenced and Corrupt Organizations) statutes.

    Also in case your not aware your lawyer is a sworn officer of the court. And they aren't going to go into the fryer just because you want to save a few bucks.

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