do i need to reveal an asset overseas with bankruptcy in US

[Anonymous]

Im filing for bankruptcy, do i need to reveal a residential lot that i own outside US??

[Anonymous]

Hi babyfudge,

Strongly recommend checking this out with your attorney. 

[Anonymous]

an Atty replied, "Now that I know about it, I have to include it." ... So does that mean that if I didn't tell him I would have been better of?  Because revealing this took me from CH 7 to CH 13.  This was during a consultation. 

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@Anonymous wrote:

Hi babyfudge,

Strongly recommend checking this out with your attorney. 

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[chasmith]

Would the OP rather include it, with the consequence of finding the need to file CH13 (not sure why that would be but I'm not an attorney), or explain to a US Attorney who has indicted the OP for fraud, after it somehow became known the asset was concealed?

[Anonymous]

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@Anonymous wrote:

an Atty replied, "Now that I know about it, I have to include it." ... So does that mean that if I didn't tell him I would have been better of?  Because revealing this took me from CH 7 to CH 13.  This was during a consultation. 

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It means that you should be forthcoming and your attorney should tell you what is required of you given your circumstances.

You're always better off telling the truth.  Gosh!

[Anonymous]

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@Anonymous wrote:

Im filing for bankruptcy, do i need to reveal a residential lot that i own outside US??

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Yup.  No matter where it is, it's supposed to be revealed.  Same, obviously, for cash overseas and any other assets.

If you don't report it to your attorney, he can't include what he doesn't know.  But once he does know, he would be in deep doo-doo if he didn't report it and it was later discovered.  So would you.

[Anonymous]

Thanks for the info... I appreciate it!

[Anonymous]

YES