It’s very common for a person filing bankruptcy to transfer money to relatives, friends, and other entities in attempt to hide it from creditors.
This is referred to as fraudulent conveyance – and although it is not considered a crime in New York, it is an action for which a creditor may sue. If you suspect that someone who owes you money has fraudulently transferred funds, you should take action immediately! In this way, there is a chance that the debt owed to you – or at least a portion of it – will be paid to you.
We are bankruptcy experts and can help you file a fraudulent conveyance action against a debtor. Do not delay in calling us for a consultation, as in this situation it is very important to act quickly.