I wired money overseas ($70K) to help pay off my parents house. Will I have to disclose it even if it's over 1 year ago?

Asked over 1 year ago - Dallas, TX

I want to file CH 7. The transaction happened about 15 months ago.

Attorney answers (4)

  1. Peter Walter Weston

    Pro

    Contributor Level 17

    5

    Lawyers agree

    Answered . Yes, this information appears to be a disclosure required by the facts in your inquiry.
    There are several reason to dislose, including a specific disclosure required by SOFA at question No 10.

    You would likely benefit from reviewing this and all other matters with experienced bankruptcy counsel, to determine what effct this may have on your filing.
    Good luck

    General legal advice is offered for educational purposes only. A consultation with a qualified attorney is... more
  2. Diane L Gruber

    Pro

    Contributor Level 18

    4

    Lawyers agree

    Answered . Yes, you have to disclose it on the Statement of Affairs AND the trustee will go after your parents for return of the money. You need a consultation with a BK attorney. Timing is everything. Good luck.

    Be sure to designate "best answer." If you live in Oregon, you may call me for more detailed advice, 503-650-9662.... more
  3. Henry Carlton Rothrock

    Contributor Level 8

    2

    Lawyers agree

    Answered . Yes, if you transfer money to someone within one year of filing a bankruptcy petition, you must disclose it. If you transfer money to a relative within two years of filing a bankruptcy petition, you must disclose it. If you do not disclose it and you sign your bankruptcy schedules under penalty of perjury, you could be charged criminally and/or the trustee could seek to revoke your discharge.

  4. Kathryn Ursula Tokarska

    Contributor Level 16

    3

    Lawyers agree

    Answered . Yes you must disclose and this transaction is problematic. Seek advise from an experienced and competent bankruptcy attorney.

    I am not YOUR lawyer. You should not rely on answers to questions as legal advice. For legal advice you should... more

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