What is the exact definition of "insolvency"

[swampwiz]

Why would cash advances to be in a stable mutual fund be bad? At the very bottom, the chances of losing more were very low, and in fact I made money from those cash advances. (Actually those cash advances would be thought of as simply transferring from one account to another to get a lower interest rate.)

Anyway, I was wondering if insolvency can be thought of as having the ability to pay any debt that does not have other assets on the side. For example if I have $120K in debt, but $70K in assets, my level of insolvency at that time would only be the ability to pay debt on $50K, or about $900/mo. I think anyone can reasonably say that he could get a job paying $900/mo more than living wages. (Actually I had thought I could get a job earning $40/hr, but I couldn't get it.)

[shabam]

You have three people to worry about:

1. Trustee
2. UST
3. Creditor

If any of the above three notices any red flags in your petition or history, they are going to investigate you further. Neither of them cares about opinions or excuses. Unlike criminal court, in BK it's not a case of innocent until proven guilty.

If you want to conduct research on various cases, you need to get a pacer account and start looking at some cases and their outcomes. Could have, should have, would have or going to means jack in BK. Once you read a few AP's and various UST objections, you will get the drift on what will fly and what will not.

[DeadManCrawling]

This guy (swampwiz) is far from a wiz. Sorry my friend, I must call em as I see em.

So many of your posts seem designed to game the system and KEEP up the lifestyle and decisions that brought you to this forum in the first place.

I truly wish you well, but you have GOT to reconsider some of your short-term gains against the long-term benefits of following the letter of the law.

You stand to lose a lot. Including a bit of time in jail, if some of these pipe-dreams are exposed in court.