Financing during bankruptcy ?

[soleprop]

sharksfan, please post the code you're 'understanding' in this way? might help the discussion.

my input: HHM has it more right than you do, and i don't have the bk code to back this belief up, but i do know that the trustee has been assigned for a reason - and it isn't just to sort out your 'up to filing' financial situation but to look at your estate in total. if you can get credit from someone then who's to say you can't use that newly found credit to repay some of your outstanding debts that you've included in your bk? you're changing the equation; you're taking on new credit risk when you haven't resolved the existing. it's not good practice, in my opinion. but that's all this is: opinion.

[HHM]

The way I understand it is that your turn over your financial life UP TO your filing date.

That is true insofar as your BK estate is made up of all assets and liabilities that exist as of the date of filing, BUT, until you receive your discharge, you cannot take any action, i.e. get new credit, that could possibly injure that estate.

The time between filing and discharge is no mans land as far as the debtor goes. You can't do anything with your assets, incur new debt, or anything until your estate is administered and discharged.

[sharksfan]

That is true insofar as your BK estate is made up of all assets and liabilities that exist as of the date of filing, BUT, until you receive your discharge, you cannot take any action, i.e. get new credit, that could possibly injure that estate.

The time between filing and discharge is no mans land as far as the debtor goes. You can't do anything with your assets, incur new debt, or anything until you estate is administered and discharged.

I guess then in a 'no asset' case the point is mute.

[HHM]

I guess then in a 'no asset' case the point is mute.

I am not sure what you mean by that? All the "No Asset" designation means is that there are no non-exempt assets that will be distributed to creditors, but until the trustee abandons your assets or you are discharge, the trustee is in control of your BK estate.