Bankruptcy: Sell assets to help family member?
What hapens if the person who is about to file for chapter 7 bankruptcy needs to sell an asset (car, boat, etc) in order to help relative, or family member who has terminal disease and requires financial help for treatment, surgery, etc.? Will the trustees still want to recover that money? Even if it’s under K and will be spent for such a cause?
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Categories: information on bankruptcy Tags: car boat, chapter 7 bankruptcy, family member, financial help, money, terminal disease
Is this a valid way to remove a bankruptcy from your credit report?
I have heard this is a good way to remove a BK. See below. Has anyone tried this?
Unlike other negative information which stays on your credit report for 7 years, bankruptcy can be reported for up to 10 years.
Bankruptcy courts keep cases active for a period of two years before placing them on microfiche.
If your Chapter 7 bankruptcy has aged at least 27 months since the date of discharge, your in a great position to make it disappear forever, simply file disputes with the credit bureaus indicating that your bankruptcy was a Chapter 13 and not a Chapter 7.
You need not provide any documentation to support your dispute, the burden of proof is on the government.
Bankruptcy courts do not respond to requests for verification on cases which has been archived to microfiche, as a result the credit bureaus are required to remove the bankruptcy from your credit report.
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Categories: General Tags: 10 years, bankruptcy courts, bk, burden of proof, chapter 13, chapter 7 bankruptcy, credit bureaus, credit report, microfiche