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Recent Posts in Bankruptcy Fraud

  • What You Should Know About Bankruptcy Fraud

    Posted By Allmand Law Firm, PLLC || 24-Oct-2016

    Bankruptcy fraud is a serious federal offense that can cost you more than just your personal possessions – it can cost your freedom. There are various ways debtors try to deceive the court from learning more about personal finances. Many consumers may not realize that doing one act alone, such as concealing an asset, can have you facing charges for fraud. To help further explain the ...
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  • 5 Reasons Why You Should Never Lie to the Bankruptcy Court

    Posted By Allmand Law Firm, PLLC || 22-Aug-2016

    There are too many debtors who think they can file bankruptcy protection and feel the court doesn't need to know everything about their finances. The bankruptcy code was established with federal regulations providing a fair option for debtors who truly need financial help. When individuals abuse the law for their own benefit, they can face serious consequences, including criminal charges. Here ...
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  • Credit Card Fraud in Chapter 7 Bankruptcy

    Posted By Allmand Law Firm, PLLC || 4-May-2016

    While most credit card debt is dischargeable in a Chapter 7 bankruptcy, there are occasions when a judge may require a debtor to repay a lender. The most common reason for judges to require repayment of credit card debt in Chapter 7 bankruptcy is if the debtor committed fraud. In other words, if the judge determines that the debtor charged up a high balance on their card without any intention of ...
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  • Man Charged with Bankruptcy Fraud after Hiding Auto Racing Business Assets

    Posted By Allmand Law Firm, PLLC || 4-Oct-2013

    Robert J. Yonkee Jr., 54, was charged in a federal court with bankruptcy fraud. He was a former resident of Machesnesy Park until he moved to Lake Geneva. He is accused of providing false information about his assets and concealing property when he filed his petition. For each charge he faces five years in prison, fines up to $250,000, and up to three years supervised release and five years' ...
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  • Illinois Man Admits Committing Bankruptcy Fraud

    Posted By Allmand Law Firm, PLLC || 16-Sep-2013

    A Wonder Lake, Ill man admits he committed fraud when he filed bankruptcy protection in 2008. James Grossmayer, 51, was charged with bankruptcy fraud after admitting he intentionally left out details about interest he had ownership of from an annuity totaling thousands of dollars. He also admits paperwork submitted to the bankruptcy court was incorrect. Grossmayer filed for Chapter 7 bankruptcy in ...
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  • California Business Man Convicted of 15 Counts of Bankruptcy Fraud

    Posted By Allmand Law Firm, PLLC || 26-Jul-2013

    A California business man and an attorney were recently convicted in a multimillion dollar bankruptcy fraud and money laundering scheme that carried on for a number of years. Steven Zinnel, 49, of Gold River and attorney Derian Eidson, 49, of Yorba Linda, will both be sentenced later this year their roles in the scheme that included concealing funds and using different names of corporations in ...
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  • False Bankruptcy Filings Used by Hundreds of Drivers to Avoid Impound Fees

    Posted By Allmand Law Firm, PLLC || 13-May-2013

    Chicago area drivers who tried to avoid paying impound fees for their vehicles allegedly participated in a bazaar scheme that included filing false bankruptcy petitions. Local and state investigators found a significant number of "pro-se" bankruptcy filings (individuals who filed without an attorney) after the U.S. Trustee's Office identified over 1,000 filings were completed. Most ...
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  • Former Construction Chief to Serve 15 Months in Prison for Tax and Bankruptcy Fraud

    Posted By Allmand Law Firm, PLLC || 15-Apr-2013

    Robert "Jeff" Johnson, 46, was recently sentenced to 15 months in prison for fraud, along with being ordered by a federal judge to pay $1.6 million to the Internal Revenue Service (IRS) and a bank he defrauded. Johnson was indicted on 12 counts in 2010 that included theft, larceny, obstruction of correspondence, falsification of records, and criminal contempt. As part of a plea deal, ...
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  • Maryland Man Convicted on Multiple Counts of Bankruptcy Fraud and Filing a False Tax Return

    Posted By admin || 4-Apr-2013

    A federal jury recently convicted 42 year old Ricardo O. Curry of Randallstown, Maryland of four counts of bankruptcy fraud, two counts of filing a false tax return, one count of false testimony under oath during bankruptcy proceedings and four counts of falsifying bankruptcy records. According to county officials, Curry failed to report more than $740,000 of income and assets while attempting to ...
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  • 3 Simple Ways to Avoid Bankruptcy Fraud

    Posted By admin || 14-Mar-2013

    If you're getting ready to file for bankruptcy, you can save yourself from sabotaging your case by being honest. Bankruptcy fraud is a serious federal offense with over 100,000 people committing the crime each year. According to the Internal Revenue Service (IRS), this translates to nearly 10 percent of bankruptcy filings done annually, having some form of fraud associated with it. Being truthful ...
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  • Investment Advisor Pleads Guilty to Defrauding Investors and Committing Bankruptcy Fraud

    Posted By admin || 7-Mar-2013

    Former investment advisor Joseph Randall Medcalf, 56, of Fresno, CA pled guilty this week to three counts of mail fraud and one count of bankruptcy fraud. The counts stem from an investment scheme Medcalf ran for several years defrauding investors out of millions through offered investment "opportunities." When Medcalf pled guilty he admitted he carried out an investment scheme to defraud ...
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  • What Happens When a Bankruptcy Trustee Suspects Fraud?

    Posted By admin || 22-Oct-2012

    When a Bankruptcy Trustee Suspects Fraud Bankruptcy fraud is a serious offense that could carry a hefty fine and years of imprisonment. Because the bankruptcy code is intertwined with federal regulations any fraud committed is considered a serious matter. A bankruptcy trustee who suspects fraud is obligated to bring the matter before the court, but with sufficient evidence. Evidence related to ...
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  • Maryland Minister Sentenced 2 Years in Prison for Bankruptcy Obstruction

    Posted By admin || 1-Aug-2012

    Maryland pastor and televangelist Robert J. Freeman, 56, was sentenced to 27 months in prison for obstructing bankruptcy court proceedings. The pastor, also known as "Dr. Shine," was known for living a luxurious lifestyle that included owning expensive vehicles and a mansion valued over $1 million. Funds were used from his church along with fraudulently obtaining credit to make his purchases. His ...
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  • Bankruptcy Fraud: Illinois Man Sentenced Five Months in Federal Prison for Concealing Assets

    Posted By admin || 13-Jul-2012

    William Cecil Griffin, 62, of Ashland, Ill was sentenced to 5 months in federal prison after pleading guilty to concealing assets when he filed Chapter 7 bankruptcy in 2009. Griffin was also ordered to pay over $40,000 in restitution to creditors. After completing his prison term he will be under home confinement for 5 months; part of a 3 year supervised release. In February of this year, Griffin ...
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  • Bankruptcy Fraud: Lenny Dykstra Pleads Guilty to 3 Counts

    Posted By admin || 6-Jul-2012

    Lenny Dykstra, former New York Mets outfielder, pled guilty this week to bankruptcy fraud counts in Los Angeles, according to federal prosecutors. Dykstra faces 3 counts of fraud that includes money laundering and concealment of assets. He may face up to 20 years in prison, yet his court date for sentencing has yet to be announced. Three years ago, Dykstra purchased a mansion that was previously ...
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  • Understanding the Significance of Bankruptcy Fraud

    Posted By admin || 16-Mar-2012

    Because bankruptcy is a legal process that is intended to help consumers and businesses deal with the debt they are unable to pay, bankruptcy fraud is considered a federal crime. Being honest and fully disclosing information and details about your situation not only helps your bankruptcy attorney understand your financial background, it helps the court in determining the best outcome for your ...
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  • Florida Man Hides Thousands in Personal Bankruptcy Filing

    Posted By admin || 2-Mar-2012

    Bankruptcy fraud is not taken lightly as one former resident of Toms River, New Jersey recently found out. Bryan Young, 39, may face criminal charges related to bankruptcy fraud, according to an announcement from United States Attorney Paul J. Fishman. Young filed a Chapter 7 bankruptcy petition in November 2008 but evidence has surfaced after his filing that he may have hidden more than $250,000 ...
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  • What Is Considered Bankruptcy Fraud?

    Posted By admin || 8-Feb-2012

    When it comes to declaring Chapter 7 or Chapter 13 bankruptcy, you know the right steps you must take to make it happen. Declare all your income and liabilities. Put your credit cards away. Work with your bankruptcy attorney to ensure a successful petition. Breathe a sigh of relief when you finally have that messy financial slate wiped clean. While there's certainly a right way to file for ...
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  • Fraud Conviction Nullifies Debtor's Bankruptcy Exemptions

    Posted By admin || 9-Nov-2011

    In the recent Chapter 7 bankruptcy case of a Texas debtor, creditors in the case successfully objected to the debtor's bankruptcy exemptions due to a felony conviction. Debtor has been convicted of felonies (as defined in 18 U.S.C. § 3156) in United States of American v. Clovis Prince, Case No. 4:09-CR-161, in the United States District Court for the Eastern District of Texas. In particular, on ...
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  • Failure To Prove Fraud Ends In Dismissal Of Bankruptcy Complaint

    Posted By admin || 12-Sep-2011

    In a recent Chapter 7 bankruptcy case, a creditor/plaintiff accused the debtor of obtaining financing under false pretenses, misrepresentation and fraud and asked the bankruptcy court to make the debt nondischargeable. The situation is one that serves as a warning against doing business with no written contract. The creditor/plaintiff in this bankruptcy case alleges that the debtor borrowed money ...
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  • Could Bankruptcy Debtors Face Prosecution For Lying On The Credit Applications?

    Posted By admin || 1-Aug-2011

    In a recent bankruptcy case a debtor who habitually lied about his income to get credit cards is facing up to 90 years in jail for lying to three credit card companies about his income. Under Title 18 of the U.S. Code, Section 1014 it is a federal crime to lie to certain types of banks in order to get credit. Undoubtedly it is unusual for ordinary debtors to be convicted under this law, but with ...
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  • Bankruptcy Trustee Sentenced To 81 Months In Jail

    Posted By admin || 29-Jul-2011

    Former U.S. Bankruptcy Trustee Marika Tolz, who was convicted of misappropriating bankruptcy estate funds, was sentenced to 81 months in jail, followed by 3 years of supervised release, 18 months of which will be served under house arrest. For more than 20 years, Tolz had been a Chapter 7 bankruptcy trustee, required to collect property of bankruptcy estates and convert them to cash. She was ...
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  • Convicted Of Bankruptcy Fraud Debtor Flees Across 14 Countries

    Posted By admin || 21-Jul-2011

    A debtor who was convicted of bankruptcy fraud in 2004 has been finally apprehended by authorities in Mexico and put in jail. Farris, 49, the former owner of Farris Gallery in St. Louis, was sentenced Friday to 14 months in prison for failure to appear. It ended an ordeal that began in July 2004, when he first pleaded guilty to fraud. He admitted in the plea that in 2002, he transferred ownership ...
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  • Convicted Identity Thief Charged With Bankruptcy Fraud

    Posted By admin || 15-Jun-2011

    After failing to report debts she incurred using stolen identities, Chapter 7 bankruptcy debtor, Ramie Marston is facing bankruptcy fraud charges. Assistant U.S. Attorney Al Rubega told those jurors that Marston filed for bankruptcy on March 12, 2009, listing her name and one alias; Robbie Marston. She signed under the penalties of perjury, he said, that she hadn't used any other name during the ...
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  • Bankruptcy Trustee Charged With Felony Fraud

    Posted By admin || 6-Mar-2011

    Court-appointed receiver and bankruptcy trustee Marika Tolz has been charged with felony fraud after allegedly misappropriating millions of dollars from bankruptcy cases since 2003. Tolz stands accused of misappropriating at least $16 million in several court cases, resulting in about $2.4 million in losses to parties in the cases. The alleged fraud and missing funds had been disclosed in mid-2010 ...
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  • Debtor's Bankruptcy Deception Ends With $300,000 Loss

    Posted By admin || 24-Jan-2011

    In a recent bankruptcy case here in Texas, a debtor failed to disclose a pending lawsuit judgment and other assets to the bankruptcy court. The debtor's deception cost the creditors and the city money pushing the court to pursue judicial estoppel action against him.Kim Lubke, formerly an Arlington, Texas, firefighter, obtained a large verdict against the City of Arlington pursuant to the Family ...
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  • More Lessons In How To Destroy Your Bankruptcy Case

    Posted By admin || 17-Dec-2010

    Former auto mogul, Denny Hecker, confessed to having a friend buy back his dirt bike and a Harley-Davidson motorcycle at a bankruptcy court auction of his belongings. The Pioneer Press, citing court papers filed Monday, reports on Hecker's disclosure that he used the name of a fake business and a credit card belonging to a former employee to make his bids online ahead of a May 25 auction. Hecker ...
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  • Will Your Behavior During Bankruptcy Be Perceived As Manipulation?

    Posted By admin || 23-Nov-2010

    One of the things we like to remind debtors of is that they must avoid the perception that they are attempting to manipulate the bankruptcy system. Below are a few behaviors that every debtor should avoid if they don't want to be accused of manipulating the bankruptcy system and faced with a dismissal of their case: Quitting a job right before filing bankruptcy, leaving you with little or no ...
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  • What Is Bankruptcy Fraud?

    Posted By admin || 5-Nov-2010

    Bankruptcy fraud is any activity done by the debtor or someone acting on the debtor's behalf that's intended to manipulate the bankruptcy system to the benefit of the debtor and/or to the detriment of the creditors or the court system. There are three major types of bankruptcy fraud but all fraud does not fall into these categories. Let's take a look at them: The most common type of bankruptcy ...
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  • Failure To Disclose Previous Bankruptcy Jeopardizes Discharge

    Posted By admin || 29-Sep-2010

    Gubernatorial candidate Nathan Deal is reeling after a U.S. bankruptcy judge ordered the reopening of a 2009 bankruptcy filing by Deal's daughter Carrie Deal Wilder and his son-in-law Clint Wilder. A U.S. bankruptcy trustee sought to reopen the Wilders' case after it was revealed that Clint Wilder was not eligible for a discharge of his debts, including those from the sporting goods store, because ...
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  • Warning: Disbarred Attorney Forging Bankruptcy Documents

    Posted By admin || 15-Sep-2010

    A warrant has been issued for the arrest of a disbarred lawyer charged with forging bankruptcy court documents and stealing more than $200,000 from individuals seeking legal help. The scheme that the disbarred attorney is allegedly involved with involves creating authentic looking; but phone bankruptcy court documents, with forged signatures of judges and time stamps. The disbarred attorney, ...
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  • Former Auto Mogul Pleads Guilty To Bankruptcy Fraud

    Posted By admin || 10-Sep-2010

    Former auto dealer Denny Hecker pleaded guilty to conspiracy and bankruptcy fraud and could face up to 10 years in prison. The bankruptcy fraud charge that Hecker has agreed to plead guilty to alleges he transferred $33,057 by wire into a bank account for an unnamed person, but that Hecker exercised control over the account, and that he transferred $80,000 to the same unnamed person who then ...
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  • Man Found Hoarding Gold and Silver Pleads Guilty To Bankruptcy Fraud

    Posted By admin || 5-Sep-2010

    Donovan Lindhorst was placed in an involuntary bankruptcy in October 2007, but he didn't plan on allowing authorities to access to all of his assets. According to bankruptcy judge, Lindhorst hid gold, silver and his ownership of a vintage pickup truck in an effort to defraud the bankruptcy system. Federal prosecutors said 69-year-old Donovan Lindhorst of Gresham had about $82,000 in cash, gold ...
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  • How Lying During Bankruptcy Can Cost You

    Posted By admin || 26-Aug-2010

    Robert Negrelli, filed bankruptcy on March 23, 2005 and unfortunately lied to the bankruptcy court in an attempt to defraud the system. At the time, Negrelli was a licensed real estate broker, owned a real estate company and specialized in selling high-end homes; but claimed initially that he only earned $81,000 in the two year period prior to filing bankruptcy. Of course, his lie was soon ...
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  • Real Estate Mogul's Bankruptcy Fraught With Accusations Of Fraud

    Posted By admin || 31-Jul-2010

    Bankruptcy Trustee James Rigby says he smells a rat and can't figure out how it is that real estate mogul Michael R. Mastro is able to continue his lavish lifestyle while in bankruptcy. Last September Mastro and his wife vacationed in Italy the very same month that he filed bankruptcy papers revealing that he was hundreds of millions of dollars in debt; but the vacations and lavish spending didn't ...
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  • How To Defend Yourself Against Bankruptcy Fraud Charges

    Posted By admin || 20-Jun-2010

    Protecting Yourself From Bankruptcy Fraud Charges One of the scariest things that can happen to a debtor is to face charges of bankruptcy fraud. Bankruptcy fraud is a serious offense and can carry a prison term of five years plus a hefty fine. So how does a debtor protect himself/herself from charges of bankruptcy fraud? Keep Records Keep very good records of your income and expenses. This is ...
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  • Another Bankruptcy Fraud Nightmare

    Posted By admin || 9-Jun-2010

    Expediency is often the road to disaster, or at least that was the case for Olusola Idowu, who was convicted of fraudulently obtaining more than $1.1 million for her home and bankruptcy fraud. Olusola Idowu, 57, was convicted on two counts of wire fraud and one count each of bankruptcy fraud, making false statements in a bankruptcy proceeding, filing a false tax return and failing to file a ...
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  • Bankruptcy Fraud Conviction Lands Debtor In Prison

    Posted By admin || 20-May-2010

    A 64-year-old bankruptcy debtor who pleaded guilty to federal bankruptcy will go to prison for three months. The debtor filed for bankruptcy in 2007 but did not disclose that she had a 50 percent interest in a $150,000 home and had $3,000 cash in an out of state bank account. And only a month after the debtor filed bankruptcy, she received a transfer of her interest in the property. Even at that ...
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  • Using Bankruptcy To Avoid Child Support Prohibited

    Posted By admin || 18-May-2010

    In the bankruptcy case of Larsen, David M.; In re, the bankruptcy court refused to redirect the debtor's funds held by a state court for the support of the debtor's minor children to other creditors. The details of the bankruptcy case: The debtor's former wife filed for divorce in 1999. During those proceedings, the debtor transferred mari­tal assets into the Magnum Opus trust of which he was the ...
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  • Debtors Are Not Required To Financially Punish Themselves Because Of Past Mistakes

    Posted By admin || 6-May-2010

    There seems to be an upsurge of anti-bankruptcy rhetoric aimed at indebted Americans to make them feel guilty about their financial circumstances which force them into bankruptcy. Since the critics can't honestly say that bankruptcy is not an effective way to discharge debt and get a fresh financial start, now many are saying that bankruptcy is immoral and too easy. Let's get to the bottom of the ...
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  • Creditor Must Provide Solid Evidence When Accusing Debtors Of Malicious Acts

    Posted By admin || 4-May-2010

    In the bankruptcy case of Powell, James D. and Betty J., In re (Ameri­can Bank of Commerce v. Powell) , the bankruptcy court ruled against the creditor who accused the debtor of willfully and maliciously causing injury. The details of the bankruptcy case: The elderly debtor kept "pasture cattle" on 20 leases that included properties with rivers and heavy mesquite growth. The debtor maintained his ...
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  • Auto Tycoon Faces Bankruptcy Fraud Charges And Fails To Pay Attorneys

    Posted By admin || 26-Apr-2010

    Former auto tycoon Denny Hecker is facing a slew of criminal charges and the possibility of losing his defense attorneys. Hecker has been charged with 10 counts of bankruptcy fraud, eight counts of wire fraud and one count of money laundering. The bankruptcy fraud charges accuse Hecker of failing to disclose numerous assets on his bankruptcy filings, and of fraudulently transferring or concealing ...
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  • NHL Battles Former Coyotes Owner Over Bankruptcy Filing

    Posted By admin || 26-Apr-2010

    The National Hockey League (NHL) has filed a lawsuit against former Phoenix Coyotes owner Jerry Moyes over the hockey team's bankruptcy filing. The bankruptcy filing was quite a surprise for the NHL and sparked months of legal battles that seemed to end in November-however the battle has is far from finished. The league claims that Moyes' bankruptcy filing and a related antitrust lawsuit were part ...
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  • Beware Of Chapter 13 Bankruptcy Scams

    Posted By admin || 1-Apr-2010

    Scammers have a few new tricks up their sleeves which now include a scheme designed to defraud Chapter 13 bankruptcy debtors. How The Scam Works Chapter 13 bankruptcy debtors are sent a letter on very "official" looking letterhead titled "Notification of Debt Relief and Loan Modification" and it goes on to say that the debtor's Chapter 13 bankruptcy case has been dismissed and that they need to ...
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  • Scam Artist Pleads Guilty To Defrauding Homeowners

    Posted By admin || 1-Apr-2010

    Harris Poulikidis, 62, pleaded guilty in a federal court participated in a bank fraud scheme that forced several low-income homeowners into bankruptcy by saddling them with excessive amounts of debt they were unable to pay. Poulikidis admitted that he caused a homeowner to obtain a $61,500 loan from Fremont Investment and Loan to refinance a mortgage and to provide approximately $19,350 in home ...
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  • Dishonest Debtors Won't Benefit From Bankruptcy

    Posted By admin || 17-Mar-2010

    While bankruptcy offers a myriad of benefits to debtors, dishonest debtors ruin their chances of getting a fresh financial start. When filing for bankruptcy it is important to tell the truth at all times. Telling lies or distorting the truth can land you in a lot of trouble. Below are a couple of common lies dishonest debtors tell during bankruptcy and why you should avoid them. Some dishonest ...
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  • Tribune Co. Accused Of Fraudulent Conveyance Before Bankruptcy

    Posted By admin || 19-Feb-2010

    The Tribune Co. which filed for Chapter 11 bankruptcy in December 2008, is being accused of fraudulent conveyance because of a $8.6 billion transaction before the company filed bankruptcy. After an investigation that included getting documents from Tribune, the Official Committee of Unsecured Creditors formally asked U.S. Bankruptcy Court in Delaware for permission to file a complaint alleging ...
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  • Debtor Pleads Guilty To Bankruptcy Fraud

    Posted By admin || 17-Feb-2010

    Minh-Vu Hoang who filed for Chapter 11 bankruptcy and submitted false information, has pleaded guilty of attempting to defraud the IRS and the bankruptcy system when hiding profits earned from the purchase and sale of foreclosures. On May 10, 2005, Minh-Vu Hoang filed for a voluntary petition under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of ...
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  • Debtor Who Hid $255,000 Charged With Bankruptcy Fraud

    Posted By admin || 16-Nov-2009

    According to an article in the Star-Telegram, a woman who hid more than $255,000 from a bankruptcy trustee has been sentenced to nearly three years in prison. The article said: "Hardy filed a personal injury lawsuit in 2001 against GE Modular Space Transport International Pool Corp. She filed for bankruptcy before the settlement. Authorities say she hid proceeds from the lawsuit. Hardy was also ...
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  • Debtor Accused Of Bankruptcy Fraud Faces Fine And Imprisonment

    Posted By admin || 9-Nov-2009

    According to a report released by the FBI, Anthony Randall Simmons a 44 year old debtor who filed for bankruptcy has been charged with bankruptcy fraud. Federal authorities stated that Simmons filed bankruptcy and attempted to defraud the system by concealing assets that he should have disclosed. Specifically, Simmons allegedly failed to report $95,000 he received from the sale of an asset that ...
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  • Debtor Indicted For Bankruptcy Fraud

    Posted By admin || 7-Oct-2009

    A debtor who filed for Chapter 7 bankruptcy was indicted on three counts of mail fraud and three counts of bankruptcy fraud for making false statements in her Chapter 7 bankruptcy petition. The details of the bankruptcy case: Chapter 7 bankruptcy debtor L.S. McGee had two different Social Security numbers, one in her name and one using an alias. Because the debtor worked as a bookkeeper, she was ...
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  • Stiff Penalties For Failing To Fully Disclose Finances In Bankruptcy

    Posted By admin || 1-Apr-2009

    The punishment for failing to fully disclose financial information during bankruptcy is up to 5 years in jail and a fine of up to $250,000. You must fully disclose your full financial picture during bankruptcy, which means completing the financials on the petition and schedules as accurately as possible. One of the most common "mistakes" made by debtors filing bankruptcy is that they "forget" ...
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  • Debts Incurred Because Of Scam May Be Dischargeable During Bankruptcy

    Posted By admin || 12-Jan-2009

    Discharging Debts From Scams in Bankruptcy In the case of Guillet, Glen G. and Cheryle A.; In re ( Neary, U.S. Trustee, v. Guillet) ,(Bankr. E.D. Tex. 2008) a bankruptcy court overruled a bankruptcy trustee who denied a Chapter 7 discharge to a debtor who incurred debts because of a Nigerian scam. The debtor sank almost $1.3 million (using mostly credit and loans from friends) into a Nigerian scam ...
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