Adversary Proceeding, Section 523, Questions

[Bankruptcy20]

The means test is different to an AP insolvency test. Insolvency is Assets vs Debt.

If you are going to battle this, best of luck to you.

Thanks. Luck is always good. I wish I had more of it when I was in the throes of my gambling stupidities.

Anyways, on this insolvency/fraud issue, I see people cite over simplications on these forums. I got my advice from my lawyers, but, Shablam, you may want to read my post #10, on page 1, where I copied what a BK judge wrote. There are several criteria he cites for a 523(a) AP objection for a credit card which is rather common-sensical.

There are other numerous criteria, the judgment of which one needs a lawyer. But, to say "you didnt make one payment, you committed fraud!" is naiive and inaccurate (as I see others post). Or, to say, you are "insolvent so you committed fraud" is a gross understatement, if not rather inaccurate.

Anyways, you may want to ask your own lawyer the criteria for an AP process. I coped a BK judge's writings above and copied the link of their deliberations into the thread above for people to learn from.

Luck is good, but facts are even better.

Anyways, I think we're going around in a circle.

[MajorMike]

We settled my AP out of court. I decided not to go through the courts and list every single thing I bought within 2 years of filing. I now owe Amex $5,000 as soon as the BK is discharged at $200 a month until it is paid off....no less is acceptable.