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Can you file bankruptcy if you have sold something of value in the past six months but used that money to pay people back that you have owed?
Wiki User
∙ 12y ago
Certainly.
And your right to question what may happen.
The transactions can be challenged as being preferential. Meaning you did them to benefit certain creditors and people over others.
You should be prepared to prove that isn't the case...that they were arms length transactions...at market value and done as reasonable financial attempts to satisfy a creditor...and not done to pay someone before another...or anticpation of BK.
The transactions can still be reversed and protested by others, but if they were sone fairly, that would likely be unsucessful...and if your in BK, make littel difference to you as they would just take the proceeds and give them to another...your debt paid/discharged won't change.
Wiki User
∙ 12y ago
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How much money does Oscar Delahoya have?
he filed bankruptcy 5 months ago. so right now he has $0.00
Can careless spending be a reason for denying bankruptcy?
Oh yes that's the one reason why people going through bankruptcy due to the mismanagement of money.
You owe your sister money can you file bankruptcy on that loan?
If you file bankruptcy, you file bankruptcy on everything. You can not file bankruptcy on one loan.
How did money cause the French Revolution?
It was the lack of money, France was facing bankruptcy. It had an unfair tax code imposed without the will of the people. The price of bread increased and the people lacked the money to purchase it.
If you receive a large sum of money before your chapter 7 bankruptcy discharge does it need to be reported?
Yes, even for 6 months after discharge. Depending on the source of the money, the trustee may have no way to take it, but not reporting it will leave you open to challenge later on. Ask your lawyer or get an experienced bankruptcy lawyer.
Where are people getting money from?
People get money from people or when they pay for something they can get change they make money from machines
What causes of bankruptcy?
The lack of money.
Is better for you to get your money after your bankruptcy is off your record like ten years down the road?
If you had money available to you when you filed bankruptcy and failed to disclose that in your Schedules, you committed fraud and perjury, and are liable to have your bankruptcy discharge reversed, not to mention possibly going to federal prison. If you inherited or won a lottery withing 6 months of the close of your case, you had an obligation to disclose it and give the money to the trustee. Failing to do so will leave your bankruptcy discharge open to being reversed as well as leaving you open to penalties. Otherwise, there is no reason to wait any amount of time. Consult an experienced bankruptcy lawyer in your area.
can you gat a construction loan wiht a bankruptcy?
You can get loans if people are willing to lend you money, but with a bankruptcy, it will be very hard/near impossible. You may have to wait a bit to build up you credit.
Time frame prior to bankruptcy to acquire large sum of money?
Always file for bankruptcy as soon after getting a large sum of money as you can.
What is money money substitutes?
A money substitute is something people can use instead of money.
What is bankruptcy in monopoly?
When you run out of money in the game
