Legal Question in Bankruptcy in California

Limits on Exemptions in Bankruptcy

Can you pay for personal property with several credit card cash advances, then file ch. 7, list the credit card debt to be discharged AND still keep the property acquired with the cash advances ''exempt'' within the exemption limitations?.... Even though there was really never a dime out of pocket to pay for the property....


Asked on 4/06/09, 8:07 pm

3 Answers from Attorneys
Robert F. Cohen Law Office of Robert F. Cohen

Re: Limits on Exemptions in Bankruptcy

There's usually a big sign in the bankruptcy hearing room that reminds debtors about how the FBI prosecutes bankruptcy fraud. It's nothing to be taken lightly.

Read more
Answered on 4/07/09, 9:10 am
Carl Starrett Law Offices of Carl H. Starrett II

Re: Limits on Exemptions in Bankruptcy

The creditor will probably file an adversary proceeding and request that you be denied a discharge.

Read more
Answered on 4/06/09, 8:17 pm
William Morrison Action Defense Center

Re: Limits on Exemptions in Bankruptcy

Uhhh...NO! You wouldn't be able to use the stuff in prison anyway.

Read more
Answered on 4/06/09, 9:18 pm


Related Questions & Answers

More Bankruptcy Law questions and answers in California