NJ BANKRUPTCY 911

(201) 673 – 5777

NJ BANKRUPTCY 911

(201) 673 – 5777

No, you cannot and should not transfer property to anyone prior to filing bankruptcy.  It is bankruptcy fraud and you can be prosecuted and go to jail if the fraud is discovered.

There are ways to protect your assets.  You should speak to an attorney who can assist you in legally protecting your assets.  People often think that they can hide assets that the Trustee assigned to oversee the case will not find.  The trustees appointed to cases have a large number of investigative tools at their disposal.  Among their weapons in their fight against bankruptcy fraud is the internet.  Never underestimate the power of the internet.

There was a New Jersey case in 2007 in which a debtor thought she could hide assets.  The Chapter 7 Trustee was able to use the U.S. Marshall’s Services to enter the debtor’s home to recover assets of the bankruptcy estate.  Although this is an extreme example of thing that can happen when you attempt to commit bankruptcy fraud you must remember that the U.S. Trustee’s Office is a branch of the U.S. Department of Justice.