Bankruptcy - Judge Throwing Out A Case?

[Applez]

What is the name of your state (only U.S. law)? IL

My father bought me a laptop about a month ago with his credit card and I said I would pay him back, but certain matters have caused him to decide to file for bankruptcy. I've been told by others that it may be considered "fraud" and if so, that his filing for bankruptcy may be denied. So now I'm left wondering:

Do you think he can be denied based on buying me that laptop? Should I try to return it, have my dad wait a bit before filing for bankruptcy (if so, how long?), or is there another option to insure that he won't be denied?

Not trying to pull a "quick one" as someone mentioned - he's (dad) always had a perfect record (always paid his bills on time, never filed for bankruptcy, etc), we're just need to figure out what to do here.

Thanks!

 

[DAD10]

I would suggest returning it.







The new Mac Pro's came out today-save up for one of those beauties-without utilizing unpaid BK collateral.

 

[bigun]

It'll be no issue. Nobody wants a used laptop.
If, the laptop was over $550 your Dad should wait 90 days from the purchase date before he files. Just be sure he tells his lawyer about any recent purchases or cash advances.

11 U.S.C. 523

C)

(i) for purposes of subparagraph (A)--

(I) consumer debts owed to a single creditor and aggregating more than $500 [$550] for luxury goods or services incurred by an individual debtor on or within 90 days before the order for relief under this title are presumed to be nondischargeable; and

(II) cash advances aggregating more than $750 [$825] that are extensions of consumer credit under an open end credit plan obtained by an individual debtor on or within 70 days before the order for relief under this title, are presumed to be nondischargeable; and