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Posted On: March 27, 2010

Fraudulent Debt in Bankruptcy

A Sacramento bankruptcy lawyer outlines fraudulent debt in a bankruptcy filing
Sacramento, as we approach the close of tax season and a close review of our financial straits, there may be some debtors who know they are going to file bankruptcy. For many this realization may be a difficult pill to swallow. Still, some debtors may take this as an opportunity to run up their credit card bills to pay for debts or necessities knowing they will discharge the debt when they file for bankruptcy. Not so fast my friends!

Debts from fraud are non-dischargeable. Thus, if a creditor can prove that your debt arose out of dishonesty, the court probably will not let you discharge that debt.

For example, you know you are going to file for bankruptcy, but your five year old daughter really wants a pony for her birthday. Being the kind parent you are, you pay $5,000.00 for your daughter’s beloved pony by using your credit card. A couple months later you file for bankruptcy after making only one payment on that credit card after purchasing the pony. In this situation a debtor should not be surprised to have the creditor object and the court agree this debt should not be dischargeable.

So, word to the wise, Sacramento, enjoy life. But do so responsibly.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento and Roseville!

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Posted In: California Bankruptcy , Chapter 11 Bankruptcy , Chapter 13 Bankruptcy , Chapter 7 Bankruptcy , Consumers in Debt , Creditors and Debt

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