Personal Property

Should I sell or transfer my properties before I file bankruptcy? Generally, you should not dispose of assets in contemplation of bankruptcy. Such transfer of assets can result in avoidable transfer by the bankruptcy trustee. Even worst, such transfer might be classified a “fraudulent transfer” where the bankruptcy trustee can sue the recipient to recover …

Should I Sell or Transfer My Properties Before I File Bankruptcy? Read More »

Do I have to list an asset that I own in another state or foreign country in my Bankruptcy case? Yes. All property, real and personal, must be disclosed in the bankruptcy schedules, regardless of whether located in Sacramento, California or elsewhere. However, the cost effectiveness of liquidation decreases for the Chapter 7 Trustee if …

Do I have to Disclose All Assets in Bankruptcy regardless of Location? Read More »