Worried that I've committed fraud prior to filing..

[BobMango]

What about selling property to FAMILY? From what I've read, any transfers of title will be looked at and especially if it's to any family member. And, in the state of Iowa, they can go back up to 2 years?

We sold a camper and a house....Wouldn't that be fraud and especially when other family members are involved? I wish there was a way to know what the trustee would do. I just hate the idea of my mother getting involved. ugghhh....

I think you are fine. Your explanation for how you arrived at the sale price on the camper sounds reasonable to me and I'm sure the trustee will see it the same way.

I sold several assets before filing and the trustee did ask my relationship to the purchaser and how much I sold them for. I would guess that transfers to family will be more closely scrutinized, but I think you'll be fine.

[momofthree]

According to my attorney, as long as you sell it for fair market value, you can sell to family without any issues. We asked if we could sell our truck to the in-laws a few WEEKS before filing and he said it was fine as long as we got fair market value for it. We're going chapter 13 though, don't know if that makes any difference at all, but I wouldn't think so.

Also, fraud means that you willfully intended to deceive or deliberately trick to gain an advantage. Neither of these sales sounds like fraud. You should be fine!

[LostNFound]

What about selling property to FAMILY? From what I've read, any transfers of title will be looked at and especially if it's to any family member. And, in the state of Iowa, they can go back up to 2 years?

We sold a camper and a house....Wouldn't that be fraud and especially when other family members are involved? I wish there was a way to know what the trustee would do. I just hate the idea of my mother getting involved. ugghhh....

[Dst1]

With all the properties up for grabs this sounds complicated but there is NOTHING in what you wrote that says fraud.

[LostNFound]

I know..."fraud" is a bad word and I'm scared that I'm going to be in big trouble.

I know that some of you have been through this and it's on my mind so much, I am struggling with waiting to talk to the lawyer (March 8th). Anyone have an opinion on this?

(1) We sold our camper to my MOTHER in Jan 2009. It was worth about $7900, but we sold it for $4000. (We had $3300 in hail damage that we never repaired) and there was a leak that they repaired. SO that's how we arrived at that figure.

(2) We sold a house/rental in Dec 2009. We sold it for fair market value which only left us with $800 at closing. We paid $400 of it back to the tenant that was renting and then purchased the home from us. So, all totaled, we made $400 after the sale.

I've read that the trustee can go back 2 years and look for any transfer of titles and I'm freaking out!! My mother is already disappointed in us for getting into this situation "she PAYS her bills". grrrrrhhh.... But If I bring her into this, I'm going to have a nervous break down. She will FLIP OUT on me.
We just sold one of our properties because we are drowning in mortgage debt. And, we returned a property bought on contract (Lost our $10K down) in Sept 2009.
We also have 3 of 5 properties still up for sale. I just listed the 4th property 2 days ago.

Is this bad? Am I going to be in HUGE trouble for all of this? Is it better if we try to somehow hold off filing for a while? I don't know what to think!!!

Oh, and FYI...I did disclose all of this to the lawyer we will be speaking with on Mar 8th. I put it in the worksheet I filled out. I just wanted some opinions before I go...seems like such a long time to find something out!