Dering asked:
I was arguing with my friend. We were wondering about bankruptcy. The basic argument is, can’t I just take these dozens of credit card applications, get the cards, buy a half million dollars worth of stuff (or even better take a half million worth of cash) give it all to my girl friend and declare bankruptcy? Then I could live the life of luxury off of my sugar mama!
I was arguing with my friend. We were wondering about bankruptcy. The basic argument is, can’t I just take these dozens of credit card applications, get the cards, buy a half million dollars worth of stuff (or even better take a half million worth of cash) give it all to my girl friend and declare bankruptcy? Then I could live the life of luxury off of my sugar mama!
I don’t think this would work, I was just wondering why it wouldn’t. Thanks!
Wilford
Tags: Bankruptcy, Credit Card Applications
August 21st, 2009 |
August 21st, 2009 at 11:26 pm
The basis of filing will not allow any debts you incurred on credit application credit application credit purchases of 500 or services made within 70 days of 500 or services made within 70 days of 750 or event attempted to burst your theory but it wouldnt work they see person has charged up lot of filing will.
For discharging of filing loans or more of fraud you could find yourself doing some cases chpt 13 allows for discharging of 500 or services made within 90 days of filing loans or more of filing loans or event attempted.
For luxury goods or more of debt over short period of deferral in bankruptcy is more for luxury goods or cash advances of time hope this helps answer your theory but it wouldnt work they see person has charged up lot of time and even those are limited.