Individuals must include all of their creditors and list all of their assets.  If individuals do not disclose all of their assets and creditors, they will be guilty of a federal crime and will be penalized.  It is important that individuals tell their attorneys everything so that their bankruptcy goes as smoothly as possible.  If individuals do not provide the documentation requested or are not truthful, they will jeopardize their bankruptcy case and may not be able to keep property or discharge debts that they would otherwise have been able to keep or discharge.

With planning individuals should be able to keep their property and reorganize their financial affairs.  Hiding assets or failing to be truthful is against the law and will cause trouble.  Full disclosure is necessary and will allow the bankruptcy to run smoothly.