Successful Bankruptcy Despite Fraudulent Conveyance Claim

Dan from Lincoln Park needed a simple Chapter 7 bankruptcy, and qualified easily. Unfortunately, shortly before he filed, he gave his car away to a friend. In bankruptcy, this can be construed as a “fraudulent conveyance.” When the Chapter 7 Trustee tried to sue Dan’s friend for the value of the car, we negotiated a settlement of less than $2,000. Dan got his bankruptcy discharge, and the friend got to keep the car.