subject: A Private Investigator In Long Island, Ny Can Stop Bankruptcy Fraud [print this page] If you suspect that someone is trying to commit fraud during bankruptcy, you should consider getting the help of a private investigator. Long Island, NY debtors may be tempted to file for bankruptcy even if they do not qualify, or they may want to keep all their assets during this time. Fortunately, though, hiring a professional to investigate the debtor"s actions can help get to the bottom of the case.
Concealing Assets
The most common form of fraud during bankruptcy is the concealment of assets. Since most bankruptcy cases require debtors to give up the majority of their assets to pay back their creditors, they might be tempted to hide them. Someone who hardly has any assets and declares chapter 7 bankruptcy simply does not have to give up much in order to get rid of debt.
This is why some people may try to transfer assets, including cars, cash, and real estate, to relatives or friends. Once the bankruptcy is over, they take back their assets, enabling them to eliminate their debt without losing their belongings. They might also try to sell all their assets and then hide the money before declaring bankruptcy. If you think someone you know has done this, you should alert the local bankruptcy court so it can hire a private investigator. Long Island, NY has a few firms that can take on this type of investigation.
Hiding Income
A debtor"s income must be below a certain amount to qualify for chapter 7 bankruptcy. If it is not, he or she must declare chapter 13, which involves repayment of most of the debt. Someone who does not want to repay the debt at all may try to claim a smaller income. The good news is that it can be quite easy to find the truth after hiring a private investigator. Long Island, NY debtors who try to claim they make less than they really do will likely be found out and fined, and the bankruptcy will be dismissed.
If you have reason to believe someone you know of is committing bankruptcy fraud, you can let the local bankruptcy court know. Most likely, a private investigator in Long Island, NY will be contacted to take on the case since this type of professional has the time and tools to find out the truth. Whether debtors try to lie about income, hide their assets, or use other methods of defrauding bankruptcy courts, they can easily be caught by private investigators.
