Re: Re: Re: Need Advice: Filing CH7 in CA (huge Judgments from lawsuits)

Filing Bankruptcy Chapter 7 and Chapter 13 Personal Bankruptcy

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Posted by: Ken on 07/30/03:

In Reply to: Re: Re: Need Advice: Filing CH7 in CA (huge Judgments from lawsuits) posted by: David N. on July 30, 2003 at 00:59:58:

I don't think you have to worry about this. As far as I know, the only three types of fraud that can cause trouble are: a fraudulent filing, money obtained fraudulently, and committing fraud while acting in a fidiciary duty. From what you've said, none of those apply. Otherwise, this is just a debt like any other, only bigger. Just make sure that your filing is painfully honest.
Chapter 13 isn't an option. There are dollar limits for a C13 filing which you vastly exceed, in the neighborhood of $250k unsecured, $750k secured debt. Debt in excess of that requires C7 or C11 (reorganization, which you don't want to do).

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Subject  : Re: Re: Re: Re: Need Advice: Filing CH7 in CA (huge Judgments from lawsuits)

Comments:
: I don't think you have to worry about this. As far as I know, the only three types of fraud that can cause trouble are: a fraudulent filing, money obtained fraudulently, and committing fraud while acting in a fidiciary duty. From what you've said, none of those apply. Otherwise, this is just a debt like any other, only bigger.  Just make sure that your filing is painfully honest.

: Chapter 13 isn't an option. There are dollar limits for a C13 filing which you vastly exceed, in the neighborhood of $250k unsecured, $750k secured debt. Debt in excess of that requires C7 or C11 (reorganization, which you don't want to do).




 
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