Be careful of scamming

[keepmine]

[no_it_all]

A really interesting post...

Not sure the second case is a BS scam or simply one judge's opinion...Especially after the debtors received counsel and were advised by several attorneys to move equity in non-exempt property to property that was exempt. Do you know of any sanctions that the attorney's received?

Seems pretty obvious in the first case mentioned that there was fraud and intent to decieve creditors...

Also, what do you mean by "the downside is significant?"...in the second case the confirmation to the Chapter 13 plan was denied, and the homestead exemption was reduced by the 42K that was <sheltered>...So aren't the debtors basically back where they started? What happens if a confirmation plan is denied as in this case??

[keepmine]

The comment of signficant downside is just meant as a general warning to a few posters that are looking for an edge.
You may find the Chapter 7 dismissed and not allowed to file a 13. Not to mention running up enormus legal fees trying to defend an indefensible position.
If you are not able to seek bk protection in a 13 you are at the mercy of your creditors which could mean lawsuits and and leins and wage garnishments.
Just trying to point out to a few posters that getting caught in a substantial abuse/fraud situation that the consequences can be serious.

[Minnymouth]

Good Post,

Many think that abuse of the system is OKAY, so what, what are they going to do to me???? DUH.........

Keep telling folks this is a FEDERAL JUDGE, FEDERAL COURT, AND FEDERAL US TRUSTEE UNDER FEDERAL LAWS................. 'THE BIG BOYS'.............

Mess with these guys - there's HELL to pay..................

[FoolAndHisMoney]

Great post Keep! I read many similar and they ended the same way, SOL!

Another thing too, even though there are some timelines such as a year or 2 to transfer property away while contemplating bankruptcy if someone transferred a home or car 3 or 4 years before filing below market value and they are still using the assets that person can be denied a discharge even today. I've read cases where a lady gave her home to her brother 3 years before filing and continued to live there and was denied here discharge. People, people, people, DON'T DO IT!