Do I have to list all of my debts when filing for Chapter 7 Bankruptcy?

Yes, you do have to list all of your debts when filing for Chapter 7 Bankruptcy in North Carolina. This means that any debts you owe must be listed on your documents. This includes all credit cards, medical bills, loans, etc. When you file for Chapter 7 Bankruptcy, a court-appointed trustee reviews your bankruptcy petition and determines which of your debts can be discharged. The trustee evaluates each debt to decide whether it qualifies for discharge. To do this, they must evaluate the debt as well as the creditor’s claim. If the claim is not provable, then it is not included in the dischargeable debts. As such, it is important to list every single debt you owe, so the trustee can determine which ones are eligible for discharge. If you do not include a debt in your bankruptcy petition, it won’t be eligible for a discharge. This could leave you liable for that debt after the bankruptcy is completed. Additionally, if you fail to list any creditors in your Chapter 7 Bankruptcy petition, you could be held liable for that debt. Moreover, if you try to hide a debt in your bankruptcy proceedings, you could be found guilty of bankruptcy fraud and face civil and criminal penalties. In short, when filing for Chapter 7 Bankruptcy in North Carolina, you must list all of your debts so the court-appointed trustee can make an accurate decision regarding dischargeable debts.

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