Bankruptcy Chaper 7

[aczlan]

A bigger problem is statute of limitations. If this happened four years ago, unless there are special circumstances it's too late to do anything, you've waited too long.

Looks like Arkansas has a 3 year statute of limitations on fraud, IN however has a 6 year statute of limitations (if they took possession of the property in Arkansas, it may be an Arkansas crime though):

IC 34-11-2-7
Six year limitation
Sec. 7. The following actions must be commenced within six (6) years after the cause of action accrues:
(1) Actions on accounts and contracts not in writing.
(2) Actions for use, rents, and profits of real property.
(3) Actions for injuries to property other than personal property, damages for detention of personal property and for recovering possession of personal property.
(4) Actions for relief against frauds.

A good rule of thumb is, when it comes to legal matters, nobody is looking out for your interests unless you are paying them to look out for your interests, (and not always even then!). The bankruptcy court, the local cops, the DA -- they all have their own agenda, and it may or may not include you. You have to pay someone to advocate for you, and it's not always worth it and never cheap.

Yep.

Aaron Z

 

[Jstpssng]

Looks like Arkansas has a 3 year statute of limitations on fraud, IN however has a 6 year statute of limitations (if they took possession of the property in Arkansas, it may be an Arkansas crime though):



Yep.

Aaron Z

It seems to me that if a crime WAS involved, once they transported across state lines it became a Federal offense.

 

[aczlan]

It seems to me that if a crime WAS involved, once they transported across state lines it became a Federal offense.

With a 5 year statute of limitations...

Aaron Z

 

[Ken]

Thanks farmer 2009 The legal system in Ind. state and county stepped back when Chapter 7 came into the picture.
by time the papers are filed there is 2 months delay then each hearing gets a 2 months delay .so after 4 years of delays the cows are gone. lawyers , cost of filing papers in courts system get paid and the buyer is free to continue milking . knowing he is protected by court sys. not to be harassed for payment. And in 8 years can do it again.

My original question was did anyone get caught in a Chapter 7 bankruptcy . Had a lot of advice
mostly should of known better than to loan the money. Good advice after the fact .

ken

Anyone ever have chapter 7 and what was the result.

Seen a lot of opinions but the Fed Judges follow a narrow guide line.

ken