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Reality star's mistakes turn personal bankruptcy into prison time

Filing for bankruptcy is not an easy process. Aside from the emotional strain of making the decision and the challenges of sorting through one's personal finances, a Massachusetts resident must check all of the right boxes and jump through all of the right hoops in order to successfully complete the bankruptcy filing. It is possible to make honest mistakes during the process of filing for bankruptcy; however, some people find ways to manipulate the process in their favor.

Just this month a popular figure from reality television began her prison sentence for a variety of charges, including bankruptcy fraud. Teresa Giudice of the Real Housewives franchise will serve 15 months in prison after pleading guilty to several counts of fraud. Her husband will also serve time behind bars after Giudice completes her incarceration.

Giudice and her husband will have to make restitution for their illegal acts, which resulted in the pair getting millions of dollars in fraudulent loans. Though not many people follow the Giudices' path to bankruptcy fraud and take advantage of the bankruptcy system, the process of completing a legitimate claim is complex to ensure that those who file have their affairs in order.

Individuals who believe that personal bankruptcy is the right choice for them but who are concerned about getting through the filing on their own can seek out professional assistance. Massachusetts attorneys who work in the bankruptcy field can help their clients protect their rights and fulfill the requirements that each form of bankruptcy demands. Though bankruptcy is rarely an easy endeavor, the right advice and support during filing can help individuals who need bankruptcy's protections avoid costly mistakes and potentially criminal, fraudulent conduct.

Source: Forbes.com, "'Real Housewives' Star Teresa Giudice Reports To Same Prison As Hill, Helmsley," Kelly Phillips Erb, Jan. 5, 2015

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