Video: Denial of Bankruptcy Filing

In this lesson, Nick Palazzolo, CPA, dives into the circumstances under which an individual may face denial of their bankruptcy filing. With an emphasis on Chapter 7, he breaks down various reasons such as inadequate record-keeping, fraud, and time limitations between filings, explaining the impact and consequences of each factor. He also touches on the requirement for credit counseling and the concept of bad faith in the bankruptcy process. Nick uses clear and sometimes humorous examples to illustrate how actions like transferring assets before filing, or having a recent history of dismissed bankruptcy, can affect one's ability to seek bankruptcy relief, highlighting the importance of honesty and thoroughness in this legal process.