Monday, October 15, 2007

What is the Bankruptcy court admissibility of a Loan Application if there is no date on the application ?

I may have to file Ch7/13 and my loan application has an overstatement of assets. There was no fraud intended. However, there is no date on the application. Can it be thrown out in bankruptcy court?

The Answer : This is an application. Was the loan approved and did you get the money?

If you don't have a loan with them, it will never even come up in BK court.

If you did get the loan, they will have records when you got the loan. The application would not be important at all.

The only important thing is when you had the property, when you got rid of it, and how everything is being reported. If you liquidated a lot of property within 90 days (I think that's the timeframe) of filing your BK you could have an issue. Your Attorney will be better able to answer this once you fill in the details.

Good luck.

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