BAPCPA Required Notice #2 – 11 USC §527(a)(2)
A debt relief agency providing bankruptcy assistance to an assisted person shall provide a clear and conspicuous written notice advising assisted persons that –
- (1) All information that the assisted person is required to provide with a petition thereafter during a case under this title is required to be complete, accurate, and truthful.
- (2) All assets and all liabilities are required to be completely and accurately disclosed in the documents filed to commence the case, and the replacement value of each asset as defined in 11 USC 506 must be stated in those documents where requested after reasonable inquiry to establish such value.
- (3) Current monthly income, the amounts specified in 11 USC 707(b)(2) and, in a case under Chapter 13 of this title, disposable income (determined in accordance with 11 USC 707(b)(2)), is required to be stated after reasonable inquiry.
- (4) Information that an assisted person provides during his or her case may be audited pursuant to the Bankruptcy Code, and a failure to provide such information may result in dismissal of the case under the Code or other sanctions, including criminal sanctions.
BAPCPA Required Notice to Consumer Who Contemplate Filing Bankruptcy