Can Business Expenses Paid with Personal Credit Cards Be Discharged in Personal Bankruptcy?

Personal credit card debt incurred to pay business obligations can be discharged as part of a personal Chapter 7 bankruptcy. But the Bankruptcy Trustee would have the right to review the business records of the LLC to determine whether the debtor’s ownership interest in the LLC has value that can be used to pay the debtor’s personal creditors through the bankruptcy case.

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Can a Wife Purchase a Husband’s Solely-Owned Home in Her Name Alone to Save it from His Bankruptcy Filing?

A wife could purchase a husband’s solely-owned using only her funds (i.e. not using any joint funds or co-mingled marital funds).

If she became the sole owner of the home, then that home would not be included as an asset in a husband’s bankruptcy case.

But it is unlikely the transaction would be ‘clear sailing.’

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