Can we file this out on bankruptcy.
Date: Fri, 01/20/2012 - 11:15
Yes you can file. However, in the context of a Chapter 7 or 11 (
Yes you can file. However, in the context of a Chapter 7 or 11 (you are over the debt limit for a Chapter 13), the creditor will be given a window of opportunity to file a complaint under 11 USC 523, asking the Court to determine that the $450k debt be non-dischargeable. If the complaint is timely filed it is a certainty that the Court will determine the debt to be non-dischargeable based upon 523(a)(6) - willful and malicious injury. If the deadline passes without the filing of the complaint, the civil obligation will be discharged. IMO it is unlikely that the injured party will miss the deadline.
Des.