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Welcome to the first installment – detailing the many paths debtors will follow to avoid their obligation to pay on their New York Judgment.   Today we cover – assets hidden as gifts to others.

One way people hide assets in the face of a New York Judgment is gifting an asset to trusted friends in an attempt to make it exempt from creditors. Sometimes gifting these assets can cause problems if the person selected does not want to return the gift later on, and the gifter never receives the asset back. This is a dishonest approach to hiding assets, the debtor may still end up without it, and if the gifting can be proven to be fraudulent, our creditors’ rights attorney can claim a fraudulent conveyance in court, and may get the gifted asset anyway.

Taroff & Taitz is Long Island’s premier debt collection attorney.  We represent creditors in many actions, from debt collection to bankruptcy.   Call today if you are having issues with debtors hiding assets, or for any other matter in which your rights as a creditor are being infringed on.


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