What Is Fraudulent Conveyance and How Can I Avoid it?
The Classic Fraudulent Conveyance The classic fraudulent conveyance occurs when a person intentionally transfers property to another with the intent to defraud, hinder, or delay a creditor’s ability to collect on a debt. For example, let’s say a car dealership finances a car for a buyer based on the buyer’s credit report and bank account funds. Later, the buyer transfers his …
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What is Wrongful Repossession?
Secured creditors have the legal right to repossess property that is collateral for a loan under certain circumstances. That legal right is known as repossession. If the creditor does not have the right to repossess the property or does not complete the repossession according to the requirements of the loan agreement and state law then the repossession is deemed a wrongful …
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