Bankruptcy Fraud

Paper Summary:

This paper discusses bankruptcy fraud and how the bankruptcy system, an arm of the United States District Court, is a critical component of the United States government because of the impact bankruptcy filings have on national and local economies. The first part highlights five of the main issues concerning bankruptcy fraud such as the conflict between the purposes of the bankruptcy system and the reality of the bankruptcy process and the issue of corporate responsibility and bankruptcy fraud. The second part of the paper reviews two cases involving bankruptcy fraud and it concludes with solutions for eliminating and/or reducing it.

From the Paper:

"Fourth, there is the issue of corporations and individuals who prey on debtors who are contemplating filing bankruptcy. Bankruptcy foreclosure scams target individuals whose home mortgages are in trouble. Scam operators operate over the Internet and in local publications, distribute fliers, target specific ethnic or religious groups, or contact individuals whose homes are listed in the foreclosure notices. These scam operators may promise to take care of an individual's problems with their mortgage lender or to obtain re-financing for the individual. Particularly bold scam operators ask individuals to hand over their property deed to the operator, and then make payments to the operator in order to stay in the home."

More papers on Bankruptcy Fraud:

• Term Paper # 98829 : "Bankruptcy Fraud"
• Term Paper # 122114 : "Avoiding Fraud and Verizon"
• Essay # 29289 : "American Corporate Fraud"

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