I realize BK law doesn't need to make sense. For example the idea that a rich person can basically sell all their assets and put it into their house (homestead) at unlimited value in some states seems crazy.
What stops someone from running up there debt, as high as they can, max out all of their cards. Then wait 6 months. File BK. I mean the most they could stand to lose in a 7 is the assets and in a 13 they aren't going to be made to pay any more regardless correct? I mean you can only have so much disposable income.
And if the lookback is 6 months, then are any of these charges even an issue?
I sunk all my bonuses into my unsecured debt, my last several tax returns into my unsecured debt, I cashed in my vacation to give to my unsecured debt, and my wife in a panic gave every penny in her businesses savings to amex which has sealed the demise of her business.
Yes I understand I made these charges, and I owe them the money. I am just trying to understand how maybe my behavior can help me get a leg up since I was trying to be responsible and do the right thing, and next to me may be some guy who ran it to the max on all his cards, waited 6 months and filed and are we looked at equal? I mean from what I read, we are (if he waits 6 months). Yet he may actually have an easier time lifestyle wise since he has used all this max credit to prepare for his bk. I have effectively thrown money into a blackhole as if I end up filing anyways, all that money I paid in was moot.
help me understand, or maybe thats just the way it is.......
What stops someone from running up there debt, as high as they can, max out all of their cards. Then wait 6 months. File BK. I mean the most they could stand to lose in a 7 is the assets and in a 13 they aren't going to be made to pay any more regardless correct? I mean you can only have so much disposable income.
And if the lookback is 6 months, then are any of these charges even an issue?
I sunk all my bonuses into my unsecured debt, my last several tax returns into my unsecured debt, I cashed in my vacation to give to my unsecured debt, and my wife in a panic gave every penny in her businesses savings to amex which has sealed the demise of her business.
Yes I understand I made these charges, and I owe them the money. I am just trying to understand how maybe my behavior can help me get a leg up since I was trying to be responsible and do the right thing, and next to me may be some guy who ran it to the max on all his cards, waited 6 months and filed and are we looked at equal? I mean from what I read, we are (if he waits 6 months). Yet he may actually have an easier time lifestyle wise since he has used all this max credit to prepare for his bk. I have effectively thrown money into a blackhole as if I end up filing anyways, all that money I paid in was moot.
help me understand, or maybe thats just the way it is.......
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