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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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in declaring bankruptcy, once assessts are sold off (a house

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in declaring bankruptcy, once assessts are sold off (a house just sold and an rv taken out of her name as well as a timeshare ) is it correct that you need to wait two years because the gov can go back for two years and see that you sold those "assests"
Hi - my name is XXXXX XXXXX I'm a Bankruptcy attorney here to assist you.

That is correct that the "look-back" period for the transfer or sale of property is 2 years before a Bankruptcy is filed. This is pursuant to Bankruptcy Stat. 548.

The Bankruptcy trustee can go back only 2 years before a Bankruptcy to affect any transfer(s) of property.

I think this is what you wanted to know. If not, please let me know. Thank you.
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Customer: replied 5 years ago.
in waiting those 2 years, i am paying the min amount on each card but don't know how long i can keep that up. when it becomes inevitable that i have to file, when is it "safe" to just stop paying on the cards? and can you file on your own or is it better to pay the $2000 for an attorney?

Thank you for accepting my answer!

1) It usually takes credit card companies at least 6 months before commencing legal action against debtors who have stopped paying. Once legal action is commenced, it can take another few months before the creditor can get a judgment. So, it is usually safe to stop paying one's credit cards around 6-8 months before filing a Bankruptcy.

2) Instead of paying an attorney up to $2,000 to fill out and file the Bankruptcy papers, you can pay a Bankruptcy preparer $200 to fill out the papers, and then you can file them on your own.

Here is a website to find a Bankruptcy preparer:

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