pattern interrogatories
Date: Sat, 04/24/2010 - 16:30
Whether you own it outright depends on whether you still owe mon
Whether you own it outright depends on whether you still owe money on a loan. You hold legal title, but the lender (if there is one) has a secured interest in the car. I would not recommend transferring title to anyone at this stage. Hiding assets in a bankruptcy action can lead to the judge denying your petition and can lead to civil penalties (such as requiring you to pay the other party's attorney's fees) in a collections action. All they have to do is do a title search to find out when the title was transferred, and you can pretty much bet creditors/collection agency's lawyers know how, when, and where to look for hidden assets.