I am not very funny. My sense of humor is dry, and according to my wife and kids, can't really be described as a "sense of humor" at all.
I dream on occasion that I am a comedian, and everyone is laughing hysterically at my jokes. Great dreams.
I do like funny things though, and I find many situations to be quite humorous. I also "chuckle" quite well.
What made me think of this?
On occasion I will meet with a potential client who causes me to chuckle...but a different kind of chuckle, an "uncomfortable" one.
When does this happen? Whenever a potential client tells me of an asset with value and then immediately recants or talks about "hiding" it.
An example (fictional of course):
Me: Do you own any thing else of value?
Potential Client: A watch
Me: Is it a nice watch? Does it talk or something?
Potential Client: Yeah...a "Breitling"
Me: So.. not a timex?
Potential Client: Oh No....."Breitling" you know...aviator watch. GQ magazine spreads.
Me: So worth maybe a few thousand on the street?
Potential Client: Maybe
Me: Probably need to get the value. If it's important to you, you may want to consider using chapter 13 bankruptcy to protect it.
Potential Client: Protect?.....(thinking for a second) Oh you mean the non exempt asset thing. But aren't I entitled to a watch in a chapter 7?
Me: Yes, up to a certain value.
Potential Client: What if I say to the Court....or I mean what if it isn't mine? You know what I mean right?
Me: (After uncomfortable chuckle done quite well).....no.
Potential Client: My neighbor says he filed a chapter 7 bankruptcy and no one asked him about his Rolex or his baby grand piano?
Me: One of the worst things you can do when asking a Court of Law to move your debts into the trash can of history, is to be less than honest about your assets.
Potential Client: Why?
Me: (After another uncomfortable chuckle) Jail time.
Potential client: About the piano.....
Being silly to try and make a point is fun. Going to jail because of a lie isn't.
I have noticed an increased determination on the part of the U.S. Trustee's office and the Court system in general to root out the dishonest bankruptcy filers.
If you are considering bankruptcy, and have assets with value that may not be exempt in bankruptcy, call an experienced bankruptcy attorney to see if there may be a way to honestly protect the asset despite filing.
