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Welcome to the second installment – detailing the many paths debtors will follow to avoid their obligation to pay on their New York Judgment.   Today we cover – avoiding a judgement by putting an asset in someone else’s name.

People will often put their assets in another person’s name if they do not want them seized by the court. It is one of the most popular techniques to hide valuable assets, but it could hurt that person’s financial security. If these changes are made around the same time the loan was defaulted or bankruptcy was filed, it could be an indicator to the courts of some shady business. It can be hard to get a court order to seize property that is no longer in the debtor’s name. Attempting to prove that these actions were intentional is can be challenging but certainly not impossible.

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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