property transfer

[ron77usa]

Hi I am going to file a chap 7 in about 6 mos last month
I transfered 2 cars to my spouse value 6,500 for both cars both are paid for my car has a note on it. I did it cause my spouse is moving out temporary . the cars were hers but she never had a car in her name she wanted property in her own name. is this a problem I live NJ


Thanks RR

[lrprn]

I transfered 2 cars to my spouse value 6,500 for both cars both are paid for my car has a note on it. I did it cause my spouse is moving out temporary . the cars were hers but she never had a car in her name she wanted property in her own name. is this a problem I live NJ

Ron, we've already told you in other threads that asset transfers like this are a big red flag for trustees. Whether it's property, cars, or large cash amounts in accounts, any transfers of assets to insiders within a year of filing can be considered bankruptcy fraud.

Please, please go make appointments for free consultations with 3-4 bankruptcy lawyers in your area of NJ. Place all these transfers you've made out on the table and see what they have to say. My guess is that you are going to have to wait a full year to file, but only an experienced lawyer who is familiar with the customs of your bankruptcy district can give you a truly reliable answer for your transfer of assets questions.