If you are considering or have already filed for bankruptcy, you are unable to legally transfer any assets out of your name and to other individuals. Also, when an individual is accused of fraud and has legal actions pending against him or her, any asset transfers can implicate other individuals in the case. According to the Uniform Fraudulent Transfer Act (UFTA), defendants in any legal matters are prevented from disassociating themselves from assets that can be used to pay debts and monetary claims against them.
If you are facing an alleged violation of the UFTA and are in need of help, turn to our skilled attorneys at the Kridel Law Group. As a team of skilled litigators, our firm is fluent in the language of the UFTA and related matters. We are courtroom-experienced counselors who can take on even the most complex legal case.
Contact a lawyer at the Kridel Law Group to learn more about fraudulent transfers under state law and in bankruptcy.
Experienced Legal Defense
If you are a debtor who is being accused of a fraudulent transfer of assets in order to protect those assets for yourself, it is essential that you seek representation. Only a law firm with experience handling cases under the UFTA and complicated debtor/creditor cases should be entrusted with such an intricate case.
In addition, anyone who received the transferred assets and property may be additionally liable and held responsible as well. Whether they were aware of the illegality of the transfer or not, these individuals need their own legal counsel to ensure they are protected.
There are a range of situations that may bring about concern with a transfer of assets, such as:
- The concealment of the transfer
- The debtor concealed or removed assets
- The debtor remained in control or possession of the transferred assets
- The debtor transferred nearly all of his or her assets
- A substantial debt was incurred by the debtor shortly before or after the transfer was made
Consequences for Fraudulent Transfers
If you are found to have committed a fraudulent transfer, you may not only be held responsible for paying the initial debt, but additional fees and compensation as well. You may also be facing a criminal charge stemming from the fraud.
Contact a New Jersey and New York Fraudulent Transfer Defense Lawyer
To learn more about fraudulent transfer matters in bankruptcy, contact a Bergen County attorney at the Kridel Law Group. Call us now at 973-470-0800.