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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 19134
Experience:  B.A.; M.B.A.; J.D.
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In the last 2 1/2 years my life has gone upside down. I have

Customer Question

In the last 2 1/2 years my life has gone upside down. I have three foreclosures pending and have quit paying on 3 credit cards, and 1 business line of credit, these total about 95k. My wife left me and has asked for 20k that I put in a. I said would pay her and don't have it . We are in talking stage right now I had a para legal make up the agreement and she signed it but I haven't yet. If I were to sell my business and were to net 100k - 200k and moved to Mexico and then went bankrupt, what are my legal rights if any????? Mark
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Phillips Esq. replied 8 years ago.

What are you proposing to do here about your bankruptcy filing is illegal and may very well land you in jail. Concealment of your assets and then filing bankruptcy to declare that you do not have any assets and need to be released from your obligation to pay your debts may be considered fraudulent and you could be criminally prosecuted by US Department of Justice.

Federal prosecutors can bring charges for suspected bankruptcy fraud under 18 U.S.C. § 157 Proof of fraud requires showing that the defendant knowingly and fraudulently made a misrepresentation of material fact. Bankruptcy fraud carries a sentence of up to five years in prison, or a fine of up to $250,000, or both. See 18 U.S.C. § 152.

Phillips Esq. and 2 other Bankruptcy Law Specialists are ready to help you
Customer: replied 8 years ago.
sorry i was away when you answered thanks
Customer: replied 8 years ago.
i have accepted this right, iam a rookie
Expert:  Phillips Esq. replied 8 years ago.
Yes, you have. Thank you!