Legal Question in Bankruptcy in Connecticut
Gift on credit
If I charged a gift on a credit card, do I have to include this in bankruptcy? This gift amounted to about $4500.00
Asked on 1/17/03, 6:58 pm
1 Answer from Attorneys
Joel M. Grafstein
Grafstein & Arcaro, LLC
Re: Gift on credit
Yes, you have to list the charge on your credit card as a debt (Schedule F)and also you must list the gift on the statement of affairs (question 7). The gift may be a fraudulent transfer and you can expect the trustee to inquire about the circumstances of the gift. Also the creditor may claim that the debt is nondischargeable because of the timing of the charge.
Answered on 1/19/03, 10:32 am
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