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progressivebydesign

(19,458 posts)

1. Wow. I'm not a lawyer, but I've researched bankruptcy, and that doesn't sound right at all.

Reply to cynatnite (Original post)

Fri Jun 15, 2012, 04:14 PM

Jun 2012

The Courts look at things like selling things off for less than value, and hiding money. The new laws are very very strict, and require a lot of checks and balances. I would hope your relative was working with an attorney before they made these moves. Hopefully it's just bad bookkeeping.

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How bad can this get? [View all] cynatnite Jun 2012 OP

Wow. I'm not a lawyer, but I've researched bankruptcy, and that doesn't sound right at all. progressivebydesign Jun 2012 #1

It almost sounds like money-laundering. Blue_In_AK Jun 2012 #2

I was thinking it was a way of hiding assets and still making money off of them. n/t cynatnite Jun 2012 #4

Big corporations can bankrupt and walk away clean and free SoutherDem Jun 2012 #3

When I filed for bankruptcy it was legitimate for them to ask for all assets lunatica Jun 2012 #5

sounds like there may have been some fraudulent conveyance going on. unblock Jun 2012 #6

It can get very bad if the court thinks assets were hidden Warpy Jun 2012 #7