Wednesday, January 21, 2015

Can I Sell My Car or other Property before Bankruptcy?

The short answer is that you can.  However, it has to be a real sale and the sale has to be disclosed.  If you sell your motorcycle to your brother from Holland for $100.00 he will have to give it back.  He might even get sued and have a legal bill.  Talk to a Bankruptcy Attorney before making any sales if you are thinking about filing Bankruptcy.  It might be that you could keep the property in a Chapter 7 Bankruptcy or Chapter 13 Repayment Plan anyway.