Questions about Assets taken for Chpt 7

[debtmonster]

You're supposed to be truthful. If you get caught hiding assets you'll wish you hadn't.

The thing is, how do they "catch" you hiding assets? What are some examples?

[knguye11]

Guns liquidation?

In CA hand guns are registered with the state, but not long guns. So there are records.

It's a big hassle to sell guns in CA. There are lots of paper work to fill out and to mention it's doesn't worth much when selling to a dealer or private party.

So, I should list them out, but write down the value of what I think it worth correct? Can some one with this experience confirm this?

K-11

[OhioFiler]

The thing is, how do they "catch" you hiding assets? What are some examples?

I'm not a trustee but I'm sure they've heard and seen it all. If I were a trustee I would watch body language very closely when asking questions of the petitioners.