February 26, 2015
You cannot hide assets during a Bankruptcy Filing without serious ramifications.
While in a Chapter 7 bankruptcy, a debtor disclosed during a Meeting of Creditors that he owned a 1957 thunderbird and a trailer to store the car both valued at $90,000.
Shortly after, the debtor claimed that the vehicle was lost or his son with a similar name had taken the vehicle. Subsequently, the debtor created false bills of sales in an attempt to show he had transferred the Thunderbird and the trailer to his son. However, during a DMV search, it was found that the transfer of ownership never took place. Continue reading…