Friday, February 7, 2020

Can I sell my property before filling chapter 7 Bankruptcy in Pennsylvania?

Putting your property up for sale right away prior to filing a Chapter 7 bankruptcy is a very risky kind of strategy because as a rule, judges really assess the financial records and assets of bankruptcy applicants carefully before granting bankruptcy. And if the federal court suspects that you have manipulated or revised the process, your Chapter 7 bankruptcy filing will be ultimately turned down.

If truth be told, selling your property before filing a Chapter 7 bankruptcy is legal. But it’s best to do for about a year or more before the filing date. Since the longer the gap in time between the asset sales and the bankruptcy, the bigger the chance that the federal court will overlook the decision.


It is always great to speak to bankruptcy lawyer before considering filing for bankruptcy. For this reason, a legal representative is incredibly needed. When you come right down to it, it’s best to work with an authority with regard to this matter before beginning any major asset sales so as to guarantee that it won’t put your filing at risk.

In the Keystone State, selling your home before filing a Chapter 7 bankruptcy may or may not be really a brilliant decision as it still depends on various major factors. That is why before you eventually make a decision, it’s imperative to consider these factors in order to for you to have knowledge of what to do:

Do you have a considerable amount of equity in your home? Just so you know when you put up your home for sale and spend the equity ahead of filing for bankruptcy, it could cause problem for your bankruptcy case depending on how recently the money was spent.

Would you prefer to stay in your home? If you are considering selling your home before bankruptcy because you don’t think you can save it, it is best to basically speak with a bankruptcy lawyer about how bankruptcy can keep you in your home.


Bankruptcies & Tax Liens - Look up bankruptcy court filings, dispositions, and tax liens and more... These records may include filing and court dates, names, fines and outstanding dues.  

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1 comment:

  1. Nice article, Which you have shared here about the Bankruptcy. Your article is very informative and useful to know more about the Chapter 7 bankruptcy. Thanks for sharing this article here. Bankruptcy Attorney minnesota

    ReplyDelete

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