Buying assets after the discharge

[tinfoilhat]

Sorry, didn't see a place for this in the after the discharge section.

Is there a period of time that your case is reviewed or anything after you're discharged and everything is officially finished?

Or do you get the same exact attention that someone who never filed gets?

Just an example: say you get discharged and a month later you put $5000 cash down payment on an asset. Is that going to raise a red flag?

[HHM]

Generally speaking, once your case is discharged, you are done, there is no follow-up. But, your scenario begs the question, where are you getting $5K cash so soon after discharge?

The only exception to the "you are discharged and done" rule is with inheritance and your position as a beneficiary of a life insurance policy. If someone dies within 180 days of the date your filed BK and leaves your something, the BK estate gets first dibs.

[tinfoilhat]

But, your scenario begs the question, where are you getting $5K cash so soon after discharge?

thanks for your reply. i didn't say i'm getting ANY cash, that was my example.

My scenario begs the question to who? You? or will I be under watch for a period of time? Thats the question--when a discharge occurs do I have all the freedoms as someone who never filed?

UNDERSTANDINGthat if I were to recieve an inheritance or be a beneficiary of a life insurance policy, I was already asked that prior to filing, so yes I do understand that would be fraudulent in one way or another.

[HHM]

when a discharge occurs do I have all the freedoms as someone who never filed?

Correct

But strictly speaking, you don't lose any freedoms; when you file BK, you create a bankruptcy estate that contains all your assets and liabilities and that estate is placed in the care of the trustee (although, in a day to day life sense, nothing changes). For the time that your BK is pending, you don't have "complete" control over that estate; but I wouldn't go so far as to say you have lost some "freedoms".

[kenshirley]

In general terms you are not on probation as such.

[tinfoilhat]

Ok then, what if I bought back something I used to own?

[HHM]

What exactly is the scenario...frankly, it's difficult to answer "hypothetical" question because they lack context and background that is usually required to provide any sort of meaningful answer.

[tinfoilhat]

What exactly is the scenario...frankly, it's difficult to answer "hypothetical" question because they lack context and background that is usually required to provide any sort of meaningful answer.

If no one is "keeping an eye on me" after the bk is closed then the answer to can someone buy back something they used to own should be yes.

Otherwise after the close peoples activities are being watched/monitored, and people who went through a bk are not the same as those who never went though a bk, correct?