There are several reasons why anyone who is even thinking about filing for bankruptcy should not give valuable gifts to anyone. First, if the court finds that the gifts were made in order to hide assets, the debtor may be denied a discharge of all his debts. This denial of discharge is permanent. The debts that were listed in the bankruptcy will not even get wiped out if the debtor files another ...
Bankruptcy law treats debts to family members and business associates a little differently than debts to banks or other creditors. If you owe money to family members or business associates, and pay them back within one year prior to filing bankruptcy, then, under bankruptcy law, your family member or business associate may be forced to pay that money back, if you have filed a chapter 7. If you ...