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.

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