Legal Question in Bankruptcy in Ohio
purchases after filing ch 7
Would it be considered fraud to acquire assets soon after filing ch 7? I currently have no assets. I need a car, and my parents would gift it to me, but it would be in my name only. I would also like to open a new checking account. Because of school and work scheduling, I don't think I can wait 3-6 months for discharge. I am filing this myself because I simply can't afford an attorney. Thanks.
1 Answer from Attorneys
Re: purchases after filing ch 7
The Chapter 7 petition takes a snapshot of everything at the moment of filing. However, a gift to you by your parents might be subject to question unless the car is worth less than $1000. A new bank account is permissible, provided you have $ 400 or less in it. Don't forget to count any 2006 tax refund as an asset.
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