A CEO of a bank owed the bank more than $11 million. Just before his anticipated filing of Chapter 7 bankruptcy, he transferred most of his assets to his wife. The Bank objected to their ex-CEO’s discharge claiming he failed to disclose pre-petition assets to the Court. The Debtor admitted he made the transfers but […]
You cannot hide assets during a Bankruptcy Filing without serious ramifications. While in a Chapter 7 bankruptcy, a debtor disclosed during a Meeting of Creditors that he owned a 1957 thunderbird and a trailer to store the car both valued at $90,000. Shortly after, the debtor claimed that the vehicle was lost or his son […]
When you file for bankruptcy and your debts are discharged, your credits cannot continue to call you and cannot try to collect from you. Loan Servicers cannot continue with their attempts to obtain payments on mortgages after a discharge in Bankruptcy. The 11th U.S. Circuit Court of Appeals held in a case that creditors that […]
