fraud Tag

12 Dec A Chapter 7 Bankruptcy Case’s Path Through The Court System

Chapter 7 bankruptcy is a fairly quick process that generally lasts about four months after you file your case. Your case will be filed electronically. A few minutes after the case is filed, you will be given a hearing date. This hearing is called a 341 hearing (after section 341 of the Bankruptcy Code) or a First Meeting of Creditors. Well just call it your hearing. Your hearing will be held four to six weeks after you file your case. All of the deadlines in your case run from the hearing date. Creditors and the United State Trustee have 60 days after your hearing date to file motions to dismiss your case, object to discharge, or file non-dischargeability actions for specific debts. A non-dischargeability action is where the creditor asks the court to rule that a particular debt is non-dischargeable. Not all debts can be discharged. For example, debts incurred by fraud cannot be discharged. Once the 60 day period runs after your hearing, neither creditors nor the United States Trustee can bring complaints or motions to disallow your discharge of your debts.
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04 Oct 13 Tips From The FBI Before Filing Bankruptcy.

I wanted to share 13 tips from the FBI before filing bankruptcy. I often tell clients that lying to the court is a crime called perjury, but often they do not believe me. So many times you will hear of stories of debtors who filed bankruptcy and did not disclose assets such as a boat, land or collectibles. These debtors often got away with discharging the debt and keeping the asset. Notice that I specifically identified the past tense in that sentence. The days of playing hide and seek with assets or creditors in bankruptcy are long gone. These stories make it incredibly difficult to convince the client that they must list all their assets and all their debts. So please allow me to share the 13 tips as I want to make it perfectly clear that lying on your petition or schedules can land you in prison.
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