Goodlettsville Avoidable Transfers Attorneys
A person who has decided to file for bankruptcy cannot show preferential treatment to certain creditors over others or transfer property prior to filing in order to avoid the potential loss of that property in the bankruptcy process. Avoidable transfers concern those transfers that may be deemed fraudulent by a bankruptcy trustee and may derail the entire process from providing effective debt relief.
At the Goodlettsville law firm of Rothschild & Ausbrooks, PLLC, our attorneys can advise you on the laws regarding avoidable transfers in Tennessee and can guide you through the process while ensuring you comply with those laws. If you are concerned about whether a transfer you made would be considered fraudulent, talk with one of our lawyers and arrange a free consultation.
Murfreesboro Fraudulent Transfer Lawyers
If a transfer of money or property is made by a debtor during a certain period of time prior to the filing of a bankruptcy petition that transfer may be undone by the bankruptcy trustee. This may include returning any payments or properties that have been made, which are then available to pay all creditors in the bankruptcy process.
Transfers to relatives made up to a year prior to filing may be undone if they are considered avoidable by the trustee who is authorized under state law. This is done to avoid making payments to one creditor at the expense of other creditors and to avoid the misrepresentation when debts are discharged in a Chapter 7 or when a repayment plan is created during a Chapter 13.
Contact Us for a Free Bankruptcy Consultation
Please contact Rothschild & Ausbrooks, PLLC, today to learn more about avoidable property transfers and filing for bankruptcy in Tennessee.