If I am in serious credit card debt and my name is on my daughter’s home, how do I protect that house from creditors?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I am in serious credit card debt and my name is on my daughter’s home, how do I protect that house from creditors?
Asked on February 4, 2012 under Bankruptcy Law, California
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
The obvious answer here is to transfer the house to your daughter so that it is out of your name as soon as possible. However, timing is everything as creditors can move to set aside transfers as fraudulent. If you do not have any judgements against you yet I would seek help now. But I am sure that you know that it will not get rid of the problem. You need to deal with the debt. Please get help as soon as you can.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.