Legal Question in Bankruptcy in Arizona

If I sell my vehicle to my dad, how long before I can file bankruptcy without them coming after the money? It is worth about $23,000. I have another car that is my daughters but in my name and it is worth $2000


Asked on 10/06/10, 9:53 am

1 Answer from Attorneys
Cindy Greene Carmichael & Powell, P.C.

You may sell your vehicle to your dad for "fair market value" and file as soon as you have legitimately spent the money on living expenses and other pre filing expenses. You would need to wait two years if you sell the vehicle to your dad for less than fair market value.

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Answered on 12/20/10, 7:54 am


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