Something that I see routinely: On our forms that we ask our clients to complete providing us with information about their finances so that we can provide proper advice to them, there is a section to list bank accounts. Every so often, a prospective client leaves this section completely blank. Although some clients do not have any checking or savings accounts, it is not a very common situation. So I ask the client: “You have no checking and no savings accounts at all, even if there is nothing in the accounts?” I am answered: “Oh yes, I do have a checking account at ‘so-and’so’ bank, but there is just five dollars in the account, so I didn’t list it since I didn’t think it mattered.”
BUT IT DOES MATTER: all bank accounts need to be listed, regardless of how little is in the account. The Bankruptcy Code requires complete disclosure of all assets. Anything less and you are risking adverse consequences against you. Your lawyer cannot properly represent you unless you have provided your lawyer with everything requested concerning your financial situation.