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Comment This wouldn't be a Slashdot post... (Score 0) 49

If it didn't involve Israel.

This is clickbait, plain and simple. You can't tell me that Israel is the ONLY foreign military that the United States is surveilling. But Timothy won't approve a post about our viewing encrypted Zambian attack camel feeds because people will engage in more WHAARGARBL if Israel and/or Palestine is somehow involved.

Comment Bankruptcy Attorney Here (Score 2) 69

By filing Chapter 13 initially, this guy was hoping to hold onto his assets, including the condo. TFA indicates that the maximum creditors could receive would be $161,400, which seems outrageously low for a debt load in the millions. I hate Chapter 13s because they are so numbers-intensive, and for people desperately wanting to hold onto their house (or car, or what have you), often times the numbers don't work. By converting to a 7, he basically loses all assets of a significant value that he cannot fully exempt from liquidation. So the condo, any vehicles with significant equity, all are seized by the Chapter 7 Trustee. He won't lose most personal effects, since the courts aren't going to waste their time taking the shirt off his back.

But if the DOJ is looking into this, he's fucked. Bankruptcy fraud was what sent the Giudices to prison, and I have had at least one client catch the eye of the DOJ in the past.

The real question now will be how long the liquidation and disbursement process will take. If they find other assets, it could very well last beyond the 5-year period of a Chapter 13.

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