Whenever someone files for bankruptcy, there is an automatic stay of all legal proceedings against that person. 

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Ben, So what I am hearing you saying is you had a property in LA that was worth $755,000 and after the sale of that property, you cleared $366,000 which you turned and bought a property in Houston for $400,000 by using the $366,000 and adding $34,000 more in personal funds. am I correct in my understanding?

They are business credit cards which report to different agencies than your personal credit, so it wouldn't affect your personal status at all.

Personally, I'd never buy the biggest house, or the most expensive house on the street.

If a buyer has good credit he can get a personal loan to buy a property, and hence “nothing down”.  

Quote from @David Eyal: This is actually very simple: don't get involved in personal issues.You offer them a renewal.

you mention the person who is complaining is now and living in an efficiency unit (to me that has everything in it-ie fridge, stove). 

I have locked up one deal off the application and have offered in person on 2-3 other deals.