Can you sell assets before you file bankruptcy and keep the money?

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Can you sell assets before you file bankruptcy and keep the money?

Asked on April 22, 2013 under Bankruptcy Law, Alabama

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

Nope. This would be considered bankruptcy fraud because within a very extended amount of time, the court and trustee will review your assets, former assets and what happened to them and whether you attempted to dissipate your assets to commit fraud. The same holds true if you go on a shopping spree within a certain time before filing bankruptcy.


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