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Buy websites after chapter 7 case is filed

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homeproductsunl

Junior Member
What is the name of your state (only U.S. law)? New York


I just retained an attorney for bankruptcy in chapter 7 and was wondering if i can develop new .com websites or purchase URLs after the case is filed but before it is closed? i dont want the .com urls to be seized.

Also can i receive gifts from my parents or would those funds be at risk of being seized by creditors or the gov?

thanks for your advice
 


FlyingRon

Senior Member
You should be talking to your attorney, but the answer is the trustee certainly CAN sell them to dispose of your debts. These certainly won't fit into any of the exempt categories.
 

LdiJ

Senior Member
What is the name of your state (only U.S. law)? New York


I just retained an attorney for bankruptcy in chapter 7 and was wondering if i can develop new .com websites or purchase URLs after the case is filed but before it is closed? i dont want the .com urls to be seized.

Also can i receive gifts from my parents or would those funds be at risk of being seized by creditors or the gov?

thanks for your advice
The smartest thing to do is to put all business ideas on hold until after your bankruptcy is finalized. If you need help from your parents to pay bills while it is pending, then let your parents pay your bills rather than giving you any money.
 
Respectfully, the above info is not accurate. 11 USC 541 describes what assets are property of the estate. In a Chapter 7 after acquired property IS NOT property of the estate unless it falls within 11 USC 541(a)(5).

While you absolutely should discuss this with your attny, in general the acquisition of URLs and the development of web sites as well as gifts from family after you file a Chapter 7 should not be a problem. This is not the case in a Chapter 11, 12 or 13 as after acquired property in those cases become property of the estate.

Des.
 

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