527a Notice

Statement Mandated By Section 527(a) of the Bankruptcy Code

NOTICE TO CLIENTS WHO CONTEMPLATE FILING BANKRUPTCY

Note: This Notice is required by legislation adopted by Congress in 2005, after intense lobbying by the credit industry. In our opinion this notice, and the Statement of Important Information About Bankruptcy Assistance Services, are designed to intimidate people who need debt relief under the Bankruptcy Code, and are based on the erroneous assumption that debtors are dishonest. So long as you are honest and meet the requirements set out under the law, you are entitled to debt relief. We can guide you through all the requirements of filing bankruptcy, so long as you provide us accurate and complete information.

You are notified as follows:

1. All information that you are required to provide with a petition and thereafter during a case under the Bankruptcy Code 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.
3. The value of each asset, which is secured by a lien on such asset, must be stated as the replacement value of such asset after reasonable inquiry to establish such value. The replacement value means the replacement value of the property at the date of filing the petition, without deducting for costs of sale or marketing. With respect to property acquired for personal, family, or household use, replacement value means the price a retail merchant would charge for property of that kind, considering the age and condition of the property.
4. You are required to state your current monthly income. Current monthly income is defined as the average of the last six months income received from all sources.
5. Information that you provide during your case may be audited pursuant to the provisions of the Bankruptcy Code. Your failure to provide information may result in dismissal of your case or other sanctions, including criminal sanctions.