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Consumer Bankruptcy : Chapter 7, Chapter 13, Protection From Claims of Creditors
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Old 06-04-2004, 01:15 PM
stonewall97
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Question

Is this fruad or not?


What is the name of your state?Arizona

I appeared for the Creditors Meeting with a Bankruptcy trustee and there was no creditors to challenge my claim, and now i need to know if it is considered a fraud to have a second bank account in my name.I would use this second bank account for my new job.My Debt is only $15,000.00 and that is with 7 seperate credit card companies.
  #2  
Old 06-06-2004, 07:29 AM
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Join Date: Apr 2004
Location: Boston
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If a debtor intentionally omits an asset (for example, cash or money in a bank account) from his petition, that can be considered bankruptcy fraud and lead to difficulty. An empty bank account is not an asset, but a trustee would want to know about its existence in order to be able to verify that it was empty at the time of filing. Opening a bank account or earning and depositing post-petition earnings into a bank account after filing under ch. 7 does not require notice be given to anybody and is not fraud. In a ch. 13 case, however, the debtor typically turns over all or a portion of his paycheck to the ch. 13 trustee in order to fund the plan. Using a secret bank account to hide income from the trustee would not be a good idea.
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