It is with tremendous frustration I write this message. As for I just watched my neighbor load up his SUV, with his boat in tow, as he and his family depart on vacation. Don't get me wrong, I AM Jealous, VERY JEALOUS! As a business owner my neighbor enjoys a flexible schedule which allows him to adjust his work around his childrens activities. It allows him to coach little league baseball. The problem with my neighbor is that he is not a SUCCESSFUL business owner. He was recently listed in the Buffalo News "Hall of Shame" bankruptcy listing section. He has been relieved of his responsibilities to pay his debts, but not before apparently "hiding" some assets. Lets make a list of his assets: Boat, SUV, Newly remodeld home with addition and gas fireplace, new concrete driveway and summer place in Sherkston. His garage looks like a warehouse for "Toys 'R Us". There appearantly has been no sacrifice on his part for the position he has put himself in. If you are bankrupt how can you afford to keep such luxuries, along with "Powerlink", "Digital Cable" and the 500 stations that come with it and your "Friends and Family" cellphone plans? Bankruptcy used to be a very embarrassing time for a person. Today it is just a tool to be used for the purpose of getting what you want. My neighbor has absolutely no shame in the fact that he cannot support his family. In fact, he flaunts it in our face.
Depending on what chapter he filed he may be able to keep those items. What really matters regardless of what chapter he filed is that he list every asset on his schedules filed with the court. These schedules are public record and you can view them at the court clerk's office. If he did not list all of his assets it could be bankruptcy fraud. If this is the case you should contact the appropriate federal law enforcement agency.
It's a good thing you said you're 'Jealous, VERY JEALOUS' from the start.
Filing for bankruptcy doesn't mean a person has to lose everything. Maybe some of his/her assets were liquified to cover what is owed and he/she didn't have to give up additional material items in the process.
We don't know if any laws were broken just from what you've said because it was written about being envious in part of your post. Just my opinion.
If what you say is true, I don't agree with what he did. What I want to know is how is that any worse than corporations that pay no taxes, that get cush goverment contracts, or the political hack with a no show job, Spanos furniture contract or Joel's SUV?
Every one complains about things like welfare or the bankruptcy case you cite.
If you know right from wrong it is up to you to make the choice.
Some people don't have a concience. Sooner or later it will catch up to them.
"If you want to know what God thinks of money just look at the people he gave it to."
By the way, what happened to biker? I miss the old coot.
The Bankruptcy Code provides for five different types of bankruptcy filings, chapter 7, chapter 13, chapter 12, chapter 9 and chapter 11.
Chapter 7 is one type of bankruptcy that is available for individuals. It is also called straight bankruptcy or liquidation. The bankruptcy court appoints a trustee who administers the bankruptcy. The individual filing for bankruptcy usually retains all the typical types of household goods and clothing. He may also retain his home and vehicles as long as he does not have more equity in those items than he can exempt. If the bankruptcy trustee allows an individual in bankruptcy to keep a car secured by a car lien or a house encumbered by a mortgage, the individual filing for bankruptcy must pay all car and mortgage payments as they fall due and pay the insurance on those items. A chapter 7 bankruptcy usually lasts about four to six months. At the end of the bankruptcy, most debts are extinguished through a discharge of debts.
Chapter 13 is another type of bankruptcy available for individuals. This bankruptcy lasts for the duration of a debt repayment plan, from three to five years. General, unsecured creditors are usually only repaid a small percentage of what is owed, but past due taxes must be paid in full, as well as arrearages on secured debt, such as a mortgage or car loan. This bankruptcy may allow individuals to keep a home or car even if they have become seriously delinquent on the loans. At the end of a successful bankruptcy, most debts are extinguished through a discharge of debts.
Chapter 12 is a type of bankruptcy available for family farmers. It functions much like chapter 13.
Chapter 9 is a type of bankruptcy for municipalities.
Chapter 11 is occasionally used by individuals but is primarily used by large corporations, which are insolvent, that wish to pay off their debts through a repayment plan.
THE BANKRUPTCY LAWYER
Regardless of the chapter
United States Code, Title 18
Sec. 152. - Concealment of assets; false oaths and claims; bribery
A person who -
(1)
knowingly and fraudulently conceals from a custodian, trustee, marshal, or other officer of the court charged with the control or custody of property, or, in connection with a case under title 11, from creditors or the United States Trustee, any property belonging to the estate of a debtor;
(2)
knowingly and fraudulently makes a false oath or account in or in relation to any case under title 11;
(3)
knowingly and fraudulently makes a false declaration, certificate, verification, or statement under penalty of perjury as permitted under section 1746 of title 28, in or in relation to any case under title 11;
(4)
knowingly and fraudulently presents any false claim for proof against the estate of a debtor, or uses any such claim in any case under title 11, in a personal capacity or as or through an agent, proxy, or attorney;
(5)
knowingly and fraudulently receives any material amount of property from a debtor after the filing of a case under title 11, with intent to defeat the provisions of title 11;
(6)
knowingly and fraudulently gives, offers, receives, or attempts to obtain any money or property, remuneration, compensation, reward, advantage, or promise thereof for acting or forbearing to act in any case under title 11;
(7)
in a personal capacity or as an agent or officer of any person or corporation, in contemplation of a case under title 11 by or against the person or any other person or corporation, or with intent to defeat the provisions of title 11, knowingly and fraudulently transfers or conceals any of his property or the property of such other person or corporation;
(8)
after the filing of a case under title 11 or in contemplation thereof, knowingly and fraudulently conceals, destroys, mutilates, falsifies, or makes a false entry in any recorded information (including books, documents, records, and papers) relating to the property or financial affairs of a debtor; or
(9)
after the filing of a case under title 11, knowingly and fraudulently withholds from a custodian, trustee, marshal, or other officer of the court or a United States Trustee entitled to its possession, any recorded information (including books, documents, records, and papers) relating to the property or financial affairs of a debtor,
shall be fined under this title, imprisoned not more than 5 years, or both
(Title 11 refers to the bankruptcy code not chapter 11)
good work there dtwarren.
We still don't know if any laws have been broken. If the person on this thread knows a fraud has been committed, he/she should have contacted the proper authorities instead of griping on an internet message board.
...but not before apparently "hiding" some assets
This is a statement that hasn't been proven.
No point in getting someone into serious trouble when he/she hasn't been proven in committing a crime like unclaiming assets, only because another blows off a little steam through jealousy.
That is why I advised they compare what they see with what is on the schedules filed with the court. Also, even if a piece of property is titled in anothers name if the debtor exercises complete dominion and control over that property it may be deemed an asset of the debtor.
The guy was just venting and you're all coming down on him.
I hate to say it, but i'm getting sick of this board.
Not that I'm an active member, but I feel the same way. Its so negative here that I almost have to force myself to read furtherOriginally posted by therising
I hate to say it, but i'm getting sick of this board.
Actually this thread has turning into more of a conversation about bancruptcy and laws based on what was first posted.
I hate to say it, but i'm getting sick of this board.
Yep have to agree here. Everyones a victim, and all politicians are out to screw someone. Pretty much sums up all the topics lately
your making it sound like we are not happy people.
If I remember correctlly one poster started a thread which was supposed to included the positive things of local government. We didn't get any post even though there are many people reading what is here.
There are a lot of positives happening in WNY that are working.
The point is to change what is not working or helping the area.
When you are talking about those items of course it will sound negative, that's the point.
How do you put in a good light people leaving the region? Labor contracts which can't be paid for enless we borrow money we don't have in the first place? LAbor contracts which in my opinion are too generous in some areas?
How do you put into a positive light a region which much have change to stay completative in the USA while the cost to live here increases everyday?
Marc? Yokes? therising? Tell me. I've stoped listening to sandy beach because he sounds like a broken record of wny depression.
When you are talking about those items of course it will sound negative, that's the point.
IMO- what's negative is that wbw4th posted about a neighbor's personal & financial history- stating he was jealous because this person still has material items after filing for bankruptcy on a business. There aren't any details, but there were accusation of bankruptcy fraud, which became to main topic of this thread.
Where's the negativity in replying to his post on the topic, which he began?
I hate to say it, but i'm getting sick of this board.
Its so negative here that I almost have to force myself to read further
Yep have to agree here. Everyones a victim, and all politicians are out to screw someone.
Positive comments, anyone?
. [/B]
Positive comments, anyone? [/B][/QUOTE]
Positive comments here?
This is the message board that slammed the Goo Goo Dolls and the City of Buffalo for holding a free concert.
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