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Don't do that. It's called fraud.

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โˆ™ 2006-01-23 13:19:59
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Q: What is the best way to get rid of your assets and file for bankruptcy if you are being sued?
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Related questions

Are assets in a 401k protected if you file bankruptcy?

Yes.


How do you file for bankruptcy in South Africa?

To file for bankruptcy in South Africa you will have to fill out and file a debt information form and request a valuation of your assets.


If your assets are over ten thousand dollars can you declare bankruptcy?

hide the assets then file.


Wifes assets if you file bankruptcy?

if your legally married when you file bankruptcy, you must include every single asset including the spouses. depends on what type of bk you file. you may be able to keep your assets.


Can you file bankruptcy without losing your home?

Yes. Many personal assets are protected in a bankruptcy.


How soon after receiving a settlement from an accident can you file bankruptcy?

This will be considered an asset. You cannot file bankruptcy if you have a number of assets that can be used to pay your creditors. Depending on the amount of the settlement, you should wait years to file bankruptcy.


Can a small business owner file for bankruptcy and still protect their assets?

Probably not


If you have assets in your home can you be force to sell it if you file bankruptcy?

If the value of the assets greatly exceed the allowable exemptions, then yes they can be seized.


What can you file in bankruptcy?

Typically when you file bankruptcy, you have to disclose all the assets that you have. And so everything you own can be susceptible to review by a bankruptcy court. However, certain assets can not be touched because they are considered essential for either your well-being or your means of making a living. A car sometimes can not be touched because it is considered vital to your ability to make a living. However, different states have different laws on the treatment of assets. I would highly recommend you check the laws in your state.


Can you sell property after filing bankruptcy?

You are not supposed to sell any property after you file bankruptcy. Those assets can be used to pay your creditors.


If someone is being sued for back rent and breaking their lease can they still file for bankruptcy?

Anybody can file for bankruptcy.


If I file Bankruptcy-7, will I be able to keep my 401k/ my home/ and my cay?

Chapter 7 is a liquidation bankruptcy, you are giving up your assets. If you want to keep your home and car you would need to file a Chapter 11 Bankruptcy.


In what year did WorldCom file for bankruptcy?

WorldCom filed for bankruptcy in 2002. At the time, it was the largest bankruptcy ever, with $107 billion in assets. This almost twice as much as that of Enron Corp.


If you file a bankruptcy will your holdings in another country be protected?

In a US bankruptcy, you will have to turn over all property of the estate. Out of country assets are property of this estate.


Do you have to file bankruptcy if you are foreclosed on?

No. You virtually never "have to" file bankruptcy.Doing so will involve all of your other assets, including those ht aren't secured by property...and the secured property is still reserved to benefit those who have it is security in bankruptcy.


If you file bankruptcy in one state and own a home in another state may you keep it?

Bankruptcy is filed in "Federal Court". It doesn't make any difference where your assets are. The only time you can hold out is if your assets are outside the U.S. and the bankruptcy court doesn't know about them.


Can you file bankruptcy as executer of estate?

No. You cannot file bankruptcy as the executor of an estate. If there are not enough assets to pay the debts of the decedent the executor can file a petition to have the estate declared insolvent. You should consult with the attorney who is handling the estate or an advocate at the court.No. You cannot file bankruptcy as the executor of an estate. If there are not enough assets to pay the debts of the decedent the executor can file a petition to have the estate declared insolvent. You should consult with the attorney who is handling the estate or an advocate at the court.No. You cannot file bankruptcy as the executor of an estate. If there are not enough assets to pay the debts of the decedent the executor can file a petition to have the estate declared insolvent. You should consult with the attorney who is handling the estate or an advocate at the court.No. You cannot file bankruptcy as the executor of an estate. If there are not enough assets to pay the debts of the decedent the executor can file a petition to have the estate declared insolvent. You should consult with the attorney who is handling the estate or an advocate at the court.


Can you file bankruptcy if your home is being foreclose?

Yes.


Can you file bankruptcy on a loan for a vehicle?

Probably yes. The reason for the "probably" is that you don't file bankruptcy on specific loans... you file bankruptcy in general, and it applies to most debts (there are certain types of debts that are not dischargable in a bankruptcy). Note that if you do file bankruptcy, you may have to sell the vehicle. In bankruptcy you are often required to sell certain assets in an attempt to at least partially pay off your creditors; you're allowed to keep a certain amount of equity in a vehicle specifically, and a certain amount in "general assets" (which can be applied to a vehicle or to cash or other personal property), but if the vehicle is worth more than that, you would have to sell it.


You owe your sister money can you file bankruptcy on that loan?

If you file bankruptcy, you file bankruptcy on everything. You can not file bankruptcy on one loan.


Once your check is being garnished is it to late to file bankruptcy?

No. And the filing will stp the garnishment, at least temporarilary. The debt, and all your others, as well as all your assets, will be involved in the BK.


Can a house be added to a bankruptcy after 9 months into the bankruptcy?

When you file bankruptcy, you must include ALL assets that you own. You can't pick and choose. This is considered fraud upon the court. So, absolutely not.


Does an insolvent person always have to file bankruptcy?

No, if the debtor is judgment proof (i.e. there are no assets/income for the creditor to take) then there would be no need to file a BK.


Can you file bankruptcy on credit card debt alone?

No. You must include all assets and all debts in your filing.


What type of bankruptcy can you file to not have to pay off your debt?

In ANY bankruptcy, whether or how much of your debt gets paid is dependent on what type it is, and more importantly, what your assets are. Your assets are used to pay your debts...have enough and 100% gets paid.