Question

What items or assets are likely to involved in fraudulent transfers prior to filing bankruptcy and why?

Answer 1

Fraudulent transfers are the transfer of assets of the debtor to third party before filing for bankruptcy . This is done to avoid paying these debts . The transfers include any properties like lands, financial bonds and any kind of assets like jewellery. These are the items that can be given to the creditors if the debtor failed to pay their debts within the given time and hence these are transferred to third parties from whom the creditors cannot take the properties. This is done to safeguard those assets and properties from being taken due to failure of paying debts.