Is it possible to be too ethical in a bankruptcy?

Answer by  DouglasEarlClore (1236)

Trying to judge ethics in bankruptcy can be difficult for laymen because financial terms have specialized meanings in many cases. It's best to hire a bankruptcy lawyer that you trust and go with their advice. If the lawyer is ethical, his or her advice to you will also be ethical.

Answer by  MelindaS (1694)

No, it is not possible to be too ethical. In fact, it is very important that you be as ethical and honest about any legal proceeding as humanly possible.

Answer by  Brendawith (464)

Being ethical is always good regardless of the circumstances. If you find yourself in a situation of a bankruptcy or business dissolvement, always conduct yourself as though you are in full view for the world to see, because in essence you are. You will never go wrong with integrity.

Answer by  Marsha (2337)

No, you should always be hoest especially in a bankruptcy. If you are not honest there will be repercussions. You will have it on your conscience and you could very well be in legal trouble down the road. You are asking for relief in bankruptcy and you need to be 100% honest.

Answer by  Dontbugme (697)

Filing bankruptcy is not unethical if it is done when all else fails. "Too ethical" would indicate that perhaps you might pay some creditors but not pay others. To some this might seem ethical but it is actually against the law. When you file you have to include all of your creditors regardless of your concerns about some of them.

Answer by  sue123 (375)

The answer to that is an emphatic "NO". In any aspect of your life it is never possible to be overly ethical. It doesn't matter whether your dealing with a bankruptcy, a contract, away of life or anything in between.

Answer by  SandyGfox (120)

Yes! If you're going bankrupt because you're losing too much money because of ethical concerns, it may be time to re-evaluate your priorities. You've got to look out for you!

Answer by  Brendawith (464)

It is not possilbe to be too ethical in anything that you endeavor. The unfortunate circumstances surrounding a bankruptcy are unpleasant enough without the added issue of concern regarding the way one conducts one's self. Always conduct business in a thoughtful, considerate manner. The true meaning of class is how one acts when no one is watching.

Answer by  LeheckaG (1826)

Generally, No. Unless your creditors engaged in fraud prior to your bankruptcy. You have an ethical/moral obligation to try to repay your creditors to the best of your ability. Bankruptcy is a "last restort" to give you a fresh start when there is no possible way in which you could legally get out of your situation by yourself.

Answer by  John (9008)

It is important to be completely honest in any bankruptcy proceeding. Not only is it the moral thing to do, but lies can lead to problems. Your creditors will investigate and are likely to find out about assets you try to hide. If lies are discovered, the bankruptcy will be invalidated.