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 our example about the adversary proceeding about whether a debt gets discharged, here are the creditor’s and debtor’s closing arguments.
If a creditor objects to you writing off –discharging–a debt in a Chapter 7 bankruptcy on grounds of fraud, here are your practical options.
Creditors will be a little less likely to challenge the writing off of recent uses of credit.
By law a certain number of cases must be audited for debtors’ “material misstatements.” But how does 0% chance of being audited sound to you?
Because of financial tweaks to the Bankruptcy Code, as of April 1 you are a little less likely to have to repay some of your recent use of credit cards.