Many clients that I see in Florida aren’t originally from the United States, and these clients may or may not have foreign assets in their home country. One of the questions I get asked a lot is whether or not a debtor needs to list any of their assets they own, that are NOT in the United States. This could include foreign bank accounts, foreign businesses or even foreign real estate holdings. The answer to that question is YES, a debtor must list all their assets whether or not they are owned within the United States or not. When a debtor files for bankruptcy they sign under oath that the information in the bankruptcy petition is true and correct and lists all the debtor’s assets. If a debtor fails to list an asset and the bankruptcy trustee finds out about it then 1) the debtor could lose their bankruptcy discharge or 2) the debtor could be sent to jail for attempting to commit bankruptcy fraud.
If you are thinking of filing for bankruptcy and would like to schedule a free consultation with a local Florida bankruptcy attorney then please contact Ofer Shmucher at Shmucher Law, PL. We offer free consultations in our main Miami office as well as any of our satellite offices (by appointment) including Boca Raton, Fort Lauderdale, Plantation, and Sunrise Florida.