Avoiding Fraudulent Transfer
When you feel that your property might be seized by your creditors, the first thing you may want to do is protect your valuable property from seizure or distribution. However, both state and national statutory bodies have many rules in place surrounding the transfer of assets by an individual who thinks they might owe creditors or who has pending lawsuits. Therefore, you must shift any assets or property with great care.
To learn more about your options and legal rights surrounding a possible bankruptcy case, call the Boca Raton bankruptcy lawyers of Eric N. Klein & Associates, P.A., at 561-353-2800.
Avoiding Fraud
If it is found that you have committed fraud, you could face:
- Fines
- Imprisonment
- Orders for restitution
It is best to implement a plan that protects your assets without triggering any red flags that could hurt you and those helping you. Elements of your plan could include:
- Creating a statement of solvency before transferring any assets
- Proving solvency for all payments and debts at the time of the transfer
- Demonstrating a lack of knowledge of pending lawsuits at the time of asset transfer
To protect yourself and your assets from future action by creditors, make sure you speak with an experienced bankruptcy attorney about your legal rights and options.
Contact Us
If you live in the South Florida area and you have questions surrounding a bankruptcy case and what legal options are available to you, contact the Boca Raton bankruptcy attorneys of Eric N. Klein & Associates, P.A., at 561-353-2800 today.
