Sacramento Bankruptcy & Debt Relief Attorney
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Transferring property prior to filing bankruptcy
Transferring property prior to filing bankruptcy
Before filing bankruptcy do not transfer your property to anyone. Doing so may subject the property to a claim of the trustee. This means that even if you give your property away, the trustee can potentially take the property back and use it to pay your creditors.
Exemptions laws, particularly in California, generally allow you to protect all your property and, in so doing, there is no need to shield your property by giving it to someone else before you file for bankruptcy.
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