Transferring Assets

Are you planning on filing for bankruptcy?  Have assets?  Do not plan on giving away or transferring assets before filing for bankruptcy.  Transferring property to family or friends will look like an attempt to defraud the bankruptcy process.  If such transfers are not disclosed and the trustee finds out about the transfer even after the debts are discharged, any discharge of debts granted by the court could be nullified.  In the worst case scenario, if a transfer is found to be purposefully performed and hidden, the filer may face criminal charges.  Assets include physical personal property, investments, real estate, past interests, future interests and money.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s