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Facts - Books - News    U.S. Facts Of Law:

Bankruptcy Abuse and Fraud

Bankruptcy fraud is a crime.  Common fraudulent or abusive acts under bankruptcy statutes include concealment of assets, concealment of documents, destruction of documents, false statements, conflicts of interest, fraudulent claims, and redistribution of assets arrangements.

Nearly two thirds of bankruptcy fraud involves the intentional non-disclosure of assets and cash in a bankruptcy petition. Schemes also include the hiding of assets, making of false statements, making multiple filings, undervaluing assets, forging petitions, use of petition mills that provide false information and making gifts or transferring assets immediately prior to or during bankruptcy. The penalties can be severe.  Bankruptcy fraud is a felony punishable by up to 5 years in prison and a $250,000 fine. Conviction for bankruptcy fraud can also invalidate your bankruptcy and allow your creditors to collect debts that were discharged by the bankruptcy.

Bankruptcy fraud has been used by individuals involved in all sorts of businesses. It's a favorite ploy of organized criminals and other con men. Consulting with legal counsel can provide information about legal rights, alternatives to bankruptcy and procedures that could keep many from crossing the line to criminal behavior.


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Candidate For SF County Sheriff Accused Of Abusing Bankruptcy System Albuque...
Albuquerque Journal Candidate for SF County sheriff accused of abusing bankruptcy system Albuquerque Journal Santa Fe County sheriff candidate Manny Anaya and his wife filed for Chapter 7 bankruptcy in 2014, but a trustee for the federal government said the couple was abusing the system because they made too much money, and were claiming excessive and

Democratic Governor Candidates Voice Support For Child Victims Act Democratic governor candidates voice support for Child Victims Act Catholic church officials in particular argued its passage would put the Archdiocese of Milwaukee into bankruptcy however, the Archdiocese filed for bankruptcy in 2011 even without the law39s passage, after hundreds of claims of abuse were brought and more raquo

The Truth About Student Loan Bankruptcy Discharge U.S News Amp World Report ...
U.S News World Report Money The Truth About Student Loan Bankruptcy Discharge U.S News World Report Money Since Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, both federal and private student loans are more difficult to discharge in bankruptcy than other types of debt. However, they can still be discharged if the

Parishes Canapost Be Forced Into Archdiocese Bankruptcy, Court Affirms Minne...
Minneapolis Star Tribune Parishes can39t be forced into archdiocese bankruptcy, court affirms Minneapolis Star Tribune The ruling, however, does not affect the more than 100 Twin Cities parishes facing lawsuits for clergy abuse outside the bankruptcy. Attorneys representing clergy sex abuse victims in bankruptcy court had argued that the archdiocese assets are far and more raquo

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Facts of Law about bankruptcy abuse and fraud in todays law

Facts of Law - Bankruptcy Abuse And Fraud