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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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I understand if I file bankruptcy and the majority of my debts

This answer was rated:

I understand if I file bankruptcy and the majority of my debts (99%) are guarantees of corporate debt the means test may not apply.
I have a case pending in civil court that is really for a corporate not guaranteed debt. it is based on fraudulent documents by the creditor claiming (1) all payments made by the corporations which are no longer active were primarily interest and the principal plus some interest is still due in the amount of around $350,000; and that (2) we personally guaranteed the debt. Neither is true and there is a good chance we would win the case. We lost our original documents in the world trade center and the plaintiff took advantage of that to fabricate documents that bore no relationship to the originals. His documents weren't even good forgeries. the notary signature is prior to the date of the document being signed and it states the documents were signed at sea when they were signed in the notary's store in manhattan.
My question is if i filed bankruptcy before the case comes to trial, could i still include it in the debts owed and have it discharged even though there has not been a finding yet by the courts that the money is owed.

cfortunato :

Hi - my name is XXXXX XXXXX I'm a Bankruptcy attorney here to assist you.

cfortunato :

Yes - if you file a Bankruptcy before the current lawsuit is resolved, your Bankruptcy can discharge any potential claim. The result of filing a Bankruptcy will be to initially suspend (stay) the lawsuit proceedings, and then the lawsuit will be dismissed upon the conclusion (discharge) of the Bankruptcy case.

cfortunato :

In other words, it is not necessary that a lawsuit be resolved (judge's decision or party stipulation) to discharge the claim.

Customer:

thanks

cfortunato :

You're welcome!

Customer:

i am trying to rate and end this but it says you're not finished answering

cfortunato :

You should be able to provide a rating now.

cfortunato and 3 other Bankruptcy Law Specialists are ready to help you

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