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Author Question: A(n) ________ occurs when a debtor, within 90 days of filing for bankruptcy, makes a payment or ... (Read 34 times)

faduma

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on: Aug 2, 2018
A(n) ________ occurs when a debtor, within 90 days of filing for bankruptcy, makes a payment or transfers property to one of his or her creditors in repayment of a debt.
 
  A) Voidable transfer
  B) Fraudulent conveyance
  C) Involuntary transfer
  D) Statutory lien

Question 2

Why is it important for the debtor to relay a complete and accurate picture of his or her debt to his or her bankruptcy attorney?
 
  What will be an ideal response?


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sabina576

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Reply #1 on: Aug 2, 2018
Answer to Question 1

A

Answer to Question 2

It is extremely important for the debtor to relay a complete and accurate list to the paralegal of all unsecured creditors. During the client intake, the paralegal should emphasize with the client the importance of scheduling all debts in a bankruptcy case. If an unsecured creditor is not scheduled, the unscheduled creditor may obtain a judgment against the debtor-client while the bankruptcy case is pending. This would be so if the creditor can prove that he or she were intentionally or fraudulently omitted from being listed in Schedules D, E, or F.


faduma

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Reply 2 on: Aug 2, 2018
Great answer, keep it coming :)

patma1981

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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