"Thou shalt not's" for clients
Rules of thumb: don't try to cheat the bankruptcy court, don't lie in the documents you submit to the court, don't sell your Ferrari to your brother-in-law for $5.00 on the condition he turn title to the car back to you after you get your final discharge from the bankruptcy court. Sound ludicrous?
It actually happened! That debtor is probably still serving his federal prison sentence. There are many legal and legitimate ways to protect your assets in bankruptcy. I can help you figure out which ones are appropriate for you.
Taking the wrong approach can land you in serious trouble. Bankruptcy fraud is currently punishable by a fine of up to $500,000.00 and / or a prison sentence of up to five years in a federal penitentiary.
Be sure to get competent legal advice!!!
