I Heard That . .. I Can Give Away My Stuff
So I Don't Lose It to My Creditors.
So I Don't Lose It to My Creditors.
In the right circumstances this is known as fraud.
Giving away your things to avoid having them taken by your creditors (or by a bankruptcy trustee) could result in having the property taken back for those creditors anyway, denial of bankruptcy relief and, in serious cases, a criminal charge being brought against you.
Giving away your stuff in order to "avoid" losing it in bankruptcy is usually not just a bad idea but worse than keeping it and working with a good lawyer on how to save your things.
Giving away your things to avoid having them taken by your creditors (or by a bankruptcy trustee) could result in having the property taken back for those creditors anyway, denial of bankruptcy relief and, in serious cases, a criminal charge being brought against you.
Giving away your stuff in order to "avoid" losing it in bankruptcy is usually not just a bad idea but worse than keeping it and working with a good lawyer on how to save your things.
8/07
