I borrowed money from family and friends. Do I have to mention them in my bankruptcy?

Yes! Everyone to whom you owe money needs to be listed in your bankruptcy schedules, even mom.  This is the LAW. Full disclosure is the number one golden rule in bankruptcy.  You may still be able to reaffirm certain debts if you want to following the bankruptcy, your lawyer can help you understand the best options when you owe money to family and friends. 

For more information on bankruptcy, be sure to grab your free copy of our book Bankruptcy Myths, Exposed! 

Carol O'Connor Cadiz
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Attorney & Owner at O'Connor Cadiz Law: Injury & Accidents, Disability Insurance.