Bankruptcy Fraud Is A Serious Crime

Before you file for bankruptcy in Illinois, it’s imperative to know that you must be entirely honest. If you aren’t, your bankruptcy could be denied, and you could face serious criminal charges. Federal prosecutors say they’ve charged one Chicago-area man with bankruptcy fraud for concealing almost $300,000 worth of “classic” automobiles. Joseph W. Campbell, 49, was arraigned in federal court in March. The government alleges that Campbell failed to disclose a Lamborghini, two Trans Ams, a DeLorean, two Corvettes, and a Dodge Viper. If you are considering bankruptcy in the Chicago area, before you do anything else, resolve to do it honestly. Then discuss your rights and options at once with an experienced Chicago bankruptcy lawyer.

Bankruptcy is often the best and most responsible option for people who see no way out of debt, so the government is serious about prosecuting those who try to exploit the bankruptcy process for criminal gain. In 2012, for example, an Ashland man, William Cecil Griffin, was sentenced a federal prison term for concealing assets in a bankruptcy proceeding. Griffin was also ordered to pay restitution to his creditors and to serve three years’ supervised release after his discharge from prison.

When you are buried in debts and you don’t see any way to pay them, bankruptcy may or may not be the best alternative. You’ll need to discuss your personal situation right away with an experienced Chicago bankruptcy lawyer who can help you with bankruptcy or suggest a better option. However, you must be completely honest with your bankruptcy lawyer and with the court. Otherwise, your debt troubles could quickly evolve into legal troubles and even jail time. You don’t want or need that. Instead, let an experienced Chicago bankruptcy lawyer handle every aspect of your bankruptcy, and if your debts are piling up now, make the call at once.