Legal Question in Bankruptcy in Georgia
My parents are moving in with me. The only asset they have is a car, and it still is not paid for. They are going to sign the car over to me and I will assume payments. Can creditors come after me or after the car if they are unable to pay their credit cards (which is a very high possiblity). My mother has already declared bankruptcy about 3 years ago. My step father may or may not declare after they move in.
Asked on 11/18/11, 6:46 am
2 Answers from Attorneys
Scott Riddle
Law Office of Scott B. Riddle, LLC
They probably cannot sign the car over to you without the lien being paid, assuming the title is subject to the lien.
Answered on 11/18/11, 6:48 am
Cyrus Malekabadi
Law Offices of Cyrus K. Malekabadi
Assuming there is equity in the car, you might be looking at a fraudulent transfer.
Feel free to contact my office for a consultation regarding bankruptcy and the transfer of assets.
404-522-0341
Answered on 11/19/11, 8:40 am
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