Every day, I meet with clients considering a Las Vegas bankruptcy and talk about listing their assets. Almost every client tells me the same thing—I don’t own anything!
Are you sure? An “asset” doesn’t have to be something physical that you can touch and examine. Have you ever written a song? Written an article? Do you run a business that has a client list? Or that owns a trademark? Do you own a patent? All of these things are assets and they all have to be listed in your bankruptcy.
Does someone owe you money for any reason? That loan you made to your friend who won’t pay you back? That’s an asset. Do you run a business with accounts receivable? Asset.
Anything you have that might potentially have value is considered an asset and needs to be listed in your Las Vegas bankruptcy paperwork. That does not mean you will lose it, but it does need to be listed.