Deliberately omitting a debt from your bankruptcy petition is a serious offense. It could result in a discharge not being granted as well as possible prosecution for bankruptcy crime.

 

Mistaken omission of a debt is not as serious. Any debts that are not listed will not be discharged, because the creditors will not receive notice of your petition. Some debts are automatically discharged unless the creditor files an adversary proceeding during the case to convince the court not to discharge the debt; however, if the creditor does not receive notice then the adversary proceeding cannot be filed and the court does not discharge the debt. These debts include debts incurred by fraud, willful and malicious injury, divorce settlements, and more. It is better for you if these debts are included from the start, so don’t forget about them.