Many Modesto residents are currently going through or considering Chapter 7 or Chapter 13 bankruptcy. While bankruptcy can be a huge relief for many people, it is not a process to be taken lightly. In Louisville, a federal bankruptcy judge recently froze the assets of a local businessman after allegations that he fraudulently transferred funds to his ex-wife in order to hide his assets from the court.
Randall Waldman was slapped with a $3.2 million judgment back in October of 2009 for defrauding a tool company owner, Ronald Stone. After that judgment, Stone's lawyers alleged that Waldman had his lawyer switch his two roofing businesses into his ex-wife's name in an attempt to hide his assets. He now faces even larger fines and possible jail time. His lawyer also faces disbarment if the allegations are true.
Bankruptcy is a Serious Matter
It simply doesn't pay to try to defraud the court system when it comes to filing for bankruptcy. If you're having financial difficulties, you don't have to go it alone. Contact a bankruptcy lawyer in Modesto who can help you examine your options for Chapter 13 and Chapter 7 bankruptcy.
Only a qualified lawyer can tell you what your choices are and what a court will and will not allow. Taking matters into your own hands or dealing with a less than reputable attorney can often make matters much worse. Never try to lie to the courts or falsely file for bankruptcy.