Can I chase a bankrupt at a later stage to recover money?

Question

I am owed money by someone who was supposed to invest in his business but used it to purchase a house. He evaded repayment and then filed for bankruptcy. I wonder if I can chase him for this money at a later stage once the bankruptcy has been lifted. How do I find out how long he will be bankrupt for? The police are not interested in the fraudulent use of my money saying it was just a bad business deal.

Answer 1

No, you may want to consult an attorney to file a possible dischargeability complaint. Check the notice you received from court, because you have a deadline to file that complaint (usually 60 days after the meeting of creditors)

Answer 2

If you were listed in the bankruptcy there is nothing you can do. Once the BK is discharged the creditor no longer has a legal obligation to pay you anything more then what you received through the bankruptcy.

The only possible hope I see is for you to file with the trustee and see if the BK can be dismissed due to fraud. I'm not sure if it's possible after the bar date, as it should have been filed early in the BK proceedings.

Contact a lawyer to verify this.

Answer 3

unfortunately there is not much you can do other than take him to court and get a garnishment perhaps. since he is in bankruptcy they may or may not allow it. you won't be able to wait until after the bankruptcy has lifted because there is a thing called a statute of limitations on collecting a debt. its normally around 5-6 years depending on where the debt originated.

Answer 4

You cannot. Once he files bankruptcy he cannot be contacted by anyone to collect a debt. It is against the law to pursue repayment after it is filed.

Answer 5

Once someone is declared bankrupt, all his/her debts are deemd to be wiped out, and he/she cannot be forced to pay any money back, even if the next week they were to win 5,000,000 on the lottery.