Photo by rupixen.com on Unsplash. Making credit card purchases or cash advances a short time before filing bankruptcy can result in fraud allegations. Good timing can avoid this. Last week’s blog post introduced the so-called “presumptions of fraud” in bankruptcy. Today we get into dealing with this issue through smart bankruptcy timing. Bankruptcy Timing to Avoid the Presumption of Fraud … Read More
In most Chapter 7 cases nobody opposes your discharge of debts. They get written off. But the trustee is one who might raise issues. Last week we discussed the role of the Chapter 7 trustee in reviewing your assets at the “meeting of creditors.” Today we get into the other main job of the trustee, to, “if advisable, oppose … Read More
Using a credit card shortly before filing bankruptcy doesn’t seem right. The law agrees. Writing off this kind of debt can be a problem.
Creditors will be a little less likely to challenge the writing off of recent uses of credit.