Call Today for a Free Consultation214-385-8500

Bankruptcy Fraud Lawyers in Dallas

What Is Bankruptcy Fraud?

Bankruptcy serves an important purpose in today's highly complex financial climate. By filing for bankruptcy, those who have taken on insurmountable debt can receive critically needed financial relief. People may need bankruptcy for a number of reasons. Crushing medical debt or every-growing credit card debt can put individuals and families into financial distress they cannot get out of. However, when filing for bankruptcy, it is very easy to take an action that can be construed as bankruptcy fraud. Forgetting an asset or having recently transferred an asset can spark a fraud investigation. If you are found guilty of bankruptcy fraud, you could be facing years of prison time. It is important to contact a qualified white collar crimes attorney as soon as possible when you discover that you are under suspicion.

Spencer & Associates is experienced in defending those who are facing accusations of bankruptcy fraud. We understand how easy it is to make a mistake that can lead to these charges, inadvertently or otherwise. Our attorney will put your interests and your rights first. A conviction is not always inevitable when you have a strong legal defense team. We have seen great success in representing people facing these charges, and we have learned through experience how best to approach different types of cases. We will do all we can to raise the strongest possible legal defense for you.

Understanding Bankruptcy Fraud

The term "bankruptcy fraud" covers a wide variety of conduct designed to wrongfully guard or hide certain assets and information during bankruptcy proceedings. Many people engage in conduct that can be construed as fraud without realizing they are doing so. Bankruptcy fraud can include actions like:

  • Concealing assets - Hiding assets in order to prevent them from being liquidated or otherwise used in partial settlement of a debt is one of the most common forms of bankruptcy fraud. Failing to report that you own an asset, such as a vehicle or a stock portfolio, can be considered fraud.
  • Transferring assets - Transferring your assets to a friend or family member in order to keep them "safe" during your bankruptcy proceedings is a very common form of concealing assets.
  • Taking on new debt - Accruing significant debts, such as by running up a credit card bill, in anticipation of filing bankruptcy is a form of fraud. Accepting new debts knowing that you will not be able to pay them, but rather will discharge them through bankruptcy, is illegal.
  • Providing false information - Falsifying information on your bankruptcy petition can lead to trouble. In some cases, false information is unwittingly given - in these cases, a criminal prosecution can sometimes be avoided entirely. If it is suspected that you knowingly or intentionally provided false information, you may face criminal charges. Filing incomplete or incorrect forms can fall into this category.
  • Multiple filings - It is a little known fact that filing bankruptcy in more than one state at a time is a federal crime. Using an alias to do so can also be considered identity fraud in some cases. Most commonly, multiple filings are made for the purpose of discharging new debts acquired after filing in one state or to dodge the mandatory waiting period between filings.

All forms of bankruptcy fraud are considered very serious. In most cases, you will be charged with a felony if the state or federal government believes that you have engaged in any of this conduct. The sooner you contact us, the better we may be able to help you.

Contact a Dallas Bankruptcy Lawyer

If you are facing bankruptcy fraud charges, or if you believe that you are suspected of bankruptcy fraud, Spencer & Associates can take immediate steps to help you. We offer consultations at no cost to you. To begin, please contact us today at 214-385-8500.

Back to Top