Rudy Giuliani’s Bankruptcy: 2 Lessons to Learn

Rudy Giuliani was ordered to pay $148M as part of a civil lawsuit judgment. As part of a strategy regarding that large judgment, Giuliani has filed for bankruptcy protection. This article discusses the Giuliani bankruptcy, and mentions a couple items that we can learn from:

• Fact 1: Bankruptcy proceedings are overseen by the U.S. Trustee’s Office, which is a part of the U.S. Department of Justice.

• Lesson 1: It is imperative to be honest and forthcoming  during your bankruptcy proceedings. Dishonesty, fraud, etc. can lead to serious consequences. As I always tell my clients: Bankruptcy is an overall positive process (to wit: You’re eliminating your debts), one of the only ways it can turn negative, is if you start lying, deceiving, or otherwise being dishonest regarding your case.

• Fact 2: A representative from the U.S. Trustee’s Office has said the government is close to filing a motion to dismiss or convert the case.

• Lesson 2: Be the “Honest but Unfortunate Debtor.” Be sincere and genuine with your efforts at a fresh start via bankruptcy. From the Giuliani article (which certainly should be read with a grain of salt), it sounds like Rudy Giuliani is being uncooperative and dodgy with his bankruptcy filings. These sorts of theatrics can lead creditors and government agencies to try to deny your efforts, which can lead to expensive, time-consuming litigation, and/or flat-out dismissal of your case.

Bankruptcy is a very positive set of benefits that are designed to help eliminate the debts of the “honest but unfortunate debtor.” To find out how these benefits can help you, contact me to schedule your FREE consultation.

Thanks,

Lucas Ruffing
(call/text) 740-815-1114
(email) LucasRuffingLaw@gmail.com