Chapter 7 bankruptcy - what information could be provided to the bankruptcy clerk's office to either halt the Chap 7...

Edwards Finance > Loans

Q. Regarding an individual filing for Chapter 7 bankruptcy - what information could be provided to the bankruptcy clerk's office to either halt the Chap 7 procedure or encourage a ruling where the debtor would have to repay the creditors at a later time? Unfortunately, while debtors rights are clarified, information on behalf of the creditor is elusive. There must be general guidelines a creditor could fall back on. In an instance where the able bodied debtor is a school instructor employed fulltime by the city he resides in who also holds down a part time job, and whose credit card abuse and college loans landed him in trouble, surely the debtor can be held at least partially accountable. What information or factors could an individual creditor use to prevent possible misuse of our bankruptcy system? Chapter 7 and other forms of bankruptcy have been discussed extensively over a range of NGs. While such a system serves as a last resort for desperate debtors, it also provides way out of responsiblity for foolish citizens who are willing to sacrifice their credit (which wasn't in such hot shape anyhow) in order to elude responsibility. I would hope that creditors, especially individuals, have some path they can travel on to contest a request for Chapter 7.

A. -They have very little path, other than proving fraud. -In bankruptcy, a creditor has enormous lattidude in probing, under oath, the bona fides of the debtor's claims of bona fide impecuniousness -There long have been such -- and the key, indeed,

Ask Edwards a Finance Question

Other Questions:

Ohio law wrt marriage/debts/bankruptcy

I have a relative (not very responsible at that) who lives in Ohio. She bought a house about 2 years ago. She just got married. She is not able to sell the house due to major repairs that are needed and insufficient funds. She has declare...

had student loan's approx 5 Years ago. Once leaving Uni I was unemployed, then I worked round the country, I have now settled & registered on the Electoral Register. The Debt collectors are now demanding stupid amounts of cash from me, I can...

Does anyone know which car rental companies accept debit cards? I intend to file bankruptcy in a couple of months and found out, to my surprise, that most car rental companies will not accept a debit card, even if it has the MasterCard or Vi...

Regarding an individual filing for Chapter 7 bankruptcy - what information could be provided to the bankruptcy clerk's office to either halt the Chap 7 procedure or encourage a ruling where the debtor would have to repay the creditors at a l...

I have recently joined a new job (with a better salary :-)). However, I noticed in my first paycheck that the Fed. income tax is about 20% rather than 18% in my previous paychecks. In both jobs I fall in 28% bracket. Does the Fed. Income tax...

Edwards Finance Menu

Ask a Question
About Us / Me
Contact Me
Privacy Policy

Sitemap

My Favorite Sites

PFBlog
Google Finance
Yahoo Finance
Motley Fool
Nveille's Financial Blog
AllFinanceMatters
Free Money Finance
2MillionBlog
The Terror Finance blog

Q&A Subjects