Can my friend declare bankruptcy and keep some of his money?
bankruptcy attorney Michigan Jul 24, 2026
Location: Northern Michigan I have a friend who is in the middle of selling their house because they have fallen so far behind on payments. At this point it looks like he will be able to sell the house for enough to cover what he owes plus walk away with some money. The issue is that he also owes money on a number of different things. Apparently he owes for a car that was repossessed a few years ago and also a few different maxed out credit cards. So if he were to pay off everything he would walk away just breaking even or maybe even still being a bit behind. So the question is, if he were to sell his house could he declare bankruptcy after and keep the money in the bank? Or maybe even give to money to his long time girlfriend or a brother for a short period and then get it back after filing for bankruptcy? Any advice is helpful, thank you!
