Legal Question in Bankruptcy in California

is bankrupt bankrupt??

hi

my sister has recently met a man that professes to have $8 million in property and $2 million in the bank. online, i see that he and his current wife have filed joint voluntary bankruptcy. my sister and this man are planning on buying a house together...he says he'll pay $2 million cash. is this even possible? don't you file bankruptcy because you have no money?? i think he is an investment broker. should i worry about her getting taken?? i just don't see how you can file bankruptcy if you have a lot of property and money...??


Asked on 9/09/03, 3:35 pm

1 Answer from Attorneys
Alvin Tenner Law Office of Alvin G. Tenner

Re: is bankrupt bankrupt??

A great deal depends on what state the BK is filed. However, this seems like too much money to keep after a BK.

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Answered on 9/10/03, 11:38 am


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