hypothetical question

[Ron350]

I have 2 questions that may be construed as "hiding assets" but am really just hypothetically speaking.

1) If you own a car that is no longer registered in any state, would you claim it as an asset? worth about 10k.

2) Would a safety deposit box at your bank be a good place to put 10k in cash and not have it discovered? better than a mason jar buried in the back yard.

Thanks for any unethical answers.

[Flamingo]

Answers:

1. Yes.

2. No. Logs are kept as to one going in and out of a safe deposit box and if it coincides with withdrawals elsewhere or other suspected activity, it, like any other asset, can be found by a Trustee.

Remember, there is always a paper trail for everything.

[emoney]

None of the above. Even with the new changes we have some of the most debtor friendly BK laws in the world.
You are risking jail time plus having your BK rejected.
regards,
emoney

[CindyLou]

even if the car does not have a current registration, it still has a title, right?

just not worth the risk!

as far as cash, IMO trevelers checks are sager than a mason jar and easier than a safety deposit box. ....as far as hiding it....i can't answer that.