During bankruptcy, there can be many appeals or requests from the lender or the bankruptcy trustee that may instigate further investigation or deeper examination of facts. Bankruptcy rule 2014 examination is one such kind. If a lender or the bankruptcy has a suspicion regarding any of the hidden assets or incorrect information provided by the bankruptcy filer. This is the reason why it is always emphasized to fill the statements, forms, and schedules accurately to the best of knowledge to avoid these contradictory procedures. Know more about bankruptcy and the procedure to file for bankruptcy on https://www.recoverylawgroup.com/bankruptcy/.
What implications does the Bankruptcy rule 2004 examination have?
The bankruptcy 2004 examination gives the right to the trustee to issue notices and request presence to testify for or against the claims of the lender. If the bankruptcy rule 2004 examination results in some hidden assets or some undisclosed income, the discharge that could be availed by the filer might be nullified. Also, the debtor might be subject to further legal consequences, criminal proceedings, and other lawsuits by lenders. The risk of exposure is high for the debtor and hence, the debtor should proceed with caution under these circumstances. Considering the criticality of the situation, it is a good idea to reach out to the best attorneys in Los Angeles & Dallas, TX at 888-297-6203.