The Jacksonville, Florida bankruptcy lawyers of Cleaveland & Cleaveland, P.L. want those considering filing chapter 7 bankruptcy or chapter 13 bankruptcy to know:
Do not give away your assets, including money, real estate, cars, or anything else of value, before filing chapter 7 bankruptcy or chapter 13 bankruptcy. Do not transfer anything out of your name, and do not sell anything without talking to your attorney about it first. If you give, transfer, or sell (for less than fair market value) any of your assets, the trustee could not only object to your discharge, but the trustee can also sue the person to whom you gave, transferred, or sold the asset to. For more information on fraudulent transfers, see http://www.law.cornell.edu/uscode/text/11/548.
Be careful who you pay back. Just as the trustee can object to your discharge for giving, transferring, or selling (for less than fair market value), or sue the person whom you gave, transferred, or sold the asset to, the trustee can also object to your discharge for paying someone back, and can sue that person for the amount of money you paid them. For more information on preferential payments, see http://www.law.cornell.edu/uscode/text/11/547.
It is also important not to incur debt you do not intend to repay before filing bankruptcy. If the trustee believes you acted in bad faith, the trustee can object to your discharge.
Most importantly, be completely honest with your attorney before filing chapter 7 bankruptcy or chapter 11 bankruptcy. Your lawyer can only advise you properly, if your lawyer has all the facts.
If you have debt and are looking to file chapter 7 bankruptcy or chapter 13 bankruptcy,? or if you simply want more information on your options regarding bankruptcy, debt defense, foreclosure defense, or debt harassment, visit the Jacksonville, Florida lawyer?s website at www.cc-lawoffice.com.
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