transfering funds to a different account

[nichole04]

I paid my dad $3000 I borrowed from him almost a year ago and my attorney told me that he wanted me to wait until the whole year went by before I file my chapter 7. However, I did not know almost a year ago that I would be filing bk and I was just paying money back I borrowed.

[BobMango]

I understand now what Angelina and the others are trying to tell me. And sorry that i even brought it up. Sounds like it's a question to ask an attorney!!

I still don't think you're quite getting it. If you are looking for legal ways to protect assets in bankruptcy, that is a perfectly legitimate thing to ask your attorney. If you ask them the question you asked here you'll get the same response that we gave you. Transferring assets with the intent to hide them from the court is fraud, pure and simple.

I think you might get better assistance if you provide some more information about the asset and what state you are in. Depending on these factors you may have legal options available through your state or federal exemptions that will allow you to protect assets legally.

[isla1]

Thanks

I understand now what Angelina and the others are trying to tell me. And sorry that i even brought it up. Sounds like it's a question to ask an attorney!!

[AngelinaCatHub]

I didn't know I was breaking a rule! I will read the rules I promise!

Greetings 'isla', and welcome to the Forum:

Angelinacat was not hitting your head against a wall, but warning you and others that what you propose is VERY illegal. Even if you 'get by' with it now, it will haunt you in your future and could even get you criminal time. You are starting a "new start" in life. The process is stressful enough. To inject a perpetual worry into your new life is not worth whatever proceeds you wish to protect. It will be tainted moneys and ruin your intent. 'Hub

[HHM]

Review section 548 of the bankruptcy code.

However, transferring funds with the express intent to hinder, delay or defraud your creditors (i.e. hide from the bankruptcy) is fraud. It really doesn't matter how long you wait.

[isla1]

Sorry!

I didn't know I was breaking a rule! I will read the rules I promise!

[AngelinaCat]

How long should I wait to file after tranfering funds from my account to a relatives. so that I don't have to legally report the transfer when I file????

Sorry. We are not here to help you defraud the system. Please review the rules for posting on the various boards, located at the top of each one. The type of question you just asked is one of the things you agreed NOT to do when you agreed to the rules by creating your account, and is grounds for being banned, However you are getting a chance to make amends.

The type of thing you are contemplating can be investigated YEARS after the event.

[isla1]

How long should I wait to file after tranfering funds from my account to a relatives. so that I don't have to legally report the transfer when I file????