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While bankruptcy can provide you with a viable option for restructuring and eliminating most debts, not all debts can be handled through a bankruptcy filing. If you are found liable for fraud, then you may face both fines for that fraud as well as punitive damages; these damages can be discharged in bankrputcy as Bankruptcy Code will not permit you to discharge any penalties for fraud.
→ Read MoreBankruptcy fraud is a criminal offense taking the form of concealment of assets, multiple filings and petition mills. Click here for a detailed definition and description of what it means to commit bankruptcy fraud.
→ Read MoreCommitting bankruptcy fraud is a serious offense. In any situation where fraud is proven, the person in question will have his or her case thrown out of court without having his debts discharged. He will likely also face penalties involving fines at the very least. Because bankruptcy fraud is a federal offense, the penalties can climb quickly and get steep: in some cases you can be criminally prosecuted for it.
→ Read MoreFind the right lawyer for your legal issue.
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