What Happens if I Transfer Property Before Filing Bankruptcy?
If you've filed for bankruptcy, you know that your assets are subject to scrutiny by the court. But what happens if you try to hide assets by transferring them to someone else before you file?
The short answer is that it's fraud, and it can land you in hot water. The courts take a dim view of anyone who tries to game the system, and if they catch you transferring property before filing, they may refuse to discharge your debts. Worse yet, you could be prosecuted for bankruptcy fraud, which is a felony punishable by up to 5 years in prison.
So if you're thinking about transferring property before filing for bankruptcy, think again. It's not worth the risk.
The Law Offices of Omar Zambrano has already helped thousands of people and businesses in the past to get out of debt and start over.
Our goal is to help you find a fresh start FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706