Legal Question in Bankruptcy in Nevada

if i get a large judgment against me, and it is coming, but other than cash i have no attachable assets except ss check each month ,would Bk be an option. or should i just let them get their judgement and try to collect, there is nothing unless i tell them where my cash is ,which i am not dumb enough to do.

Asked on 3/02/13, 4:05 pm

1 Answer from Attorneys

Sorry Charlie, but if you are called for a judgment Debtor's examination and you are asked where your cash is, if you don't answer honestly, you can be charged with the crime of perjury. You may also want to look at the provisions of the Nevada Fraudulent Transfers Act which can be used to penalize you civilly and criminally for taking property out of your name to avoid paying your debts. Don't assume that you understand what can happen in this situation, because assuming probably got you into the mess you are in right now. And don't file bankruptcy thinking that it will allow you to hide assets anymore than just having a court judgment against you.

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Answered on 3/04/13, 9:02 am

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