A Bankruptcy and Debt Relief Lawyer and Attorney Andy Miofsky

2249 Pontoon Road, Granite City Illinois 62040

An Illinois Bankruptcy Lawyer and Attorney 618-931-1313 Offering Chapter 7 and Chapter 13 Bankruptcy Attorney information in Madison, St Clair & Southern Illinois counties

Relative Holds Money or Property

Yes, you are required to list all of your assets on the bankruptcy schedules.  You cannot avoid disclosing an asset by giving it to someone else before you file.  Think about that for a moment.  If it was as easy as giving your money or your stuff to your relative, then filing bankruptcy to wipe out your debts, then taking your stuff back, everyone would do that and no one would ever pay any bills.  That is not how bankruptcy works.  I like to ask people, "Would you be upset if the relative spent all the money or if the relative sold the property without your permission?"  If your answer is yes, then you believe it is really your property, and all property must be disclosed.

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