Should I Transfer Property out of My Name before Filing for Bankruptcy?

It seems like an easy fix, when making attempts to protect assets from creditors prior to deciding to file for bankruptcy to move those assets from your name to a son or daughter or sibling or parent. Often, when people have quit-claimed a home to someone else to protect it from a creditor, they still do not realize, at that point, that they may end up filing for bankruptcy.

This can be a very bad idea.

To read more about transferring property and bankruptcy, click here to read our full post on this topic on the new Michigan Bankruptcy Blog of The Hilla Law Firm, PLLC.

If you are a southeast Michigan resident and are considering filing for bankruptcy, please contact me at (866) 674-2317 or john@hillalaw.com to schedule a free, initial consultation.

3 responses to “Should I Transfer Property out of My Name before Filing for Bankruptcy?

  1. Pingback: When Is My Chapter 7 Bankruptcy Actually Over? | Michigan Bankruptcy Lawyer

  2. Pingback: How Much Can my Chapter 7 Banrkuptcy Trustee Can Take from Me? | Michigan Bankruptcy Lawyer

  3. Pingback: Can I Still Provide Financial Assistance to Elderly Relatives if I File Chapter 7 or Chapter 13 Bankruptcy? | Michigan Bankruptcy Lawyer

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s