Chapter 7 questions
Date: Wed, 09/02/2009 - 21:51
I am in the process of filing for chapter 7 but I have a few questions. Now from what I understand with preferences if I paid a family member back on a loan a year prior to filing they can not be sued, is this correct?
What my situation is, in Nov of 2008 I paid back $8000 to a family member on a loan. I only got this money because I was in a car accident and paid her off with it. Now I need to file chapter 7 but do not want her to get sued.
From what I have read all around it seems like the best thing to do is file after the 1 year date from when the loan was paid off. Can anyone confirm this for me? I am just really trying to avoid my family member getting sued.
What my situation is, in Nov of 2008 I paid back $8000 to a family member on a loan. I only got this money because I was in a car accident and paid her off with it. Now I need to file chapter 7 but do not want her to get sued.
From what I have read all around it seems like the best thing to do is file after the 1 year date from when the loan was paid off. Can anyone confirm this for me? I am just really trying to avoid my family member getting sued.
I'm not sure about the one year tenure but repaying a loan to a
I'm not sure about the one year tenure but repaying a loan to a family just before filing bk isn't a very good idea. It seems that creditors can actually force that member to return the money to pay the creditors. IMO you should consult these factors with your BK lawyer.
I think that it is more than one year. I would definitely discu
I think that it is more than one year. I would definitely discuss this with your attorney.
Talk to an attorney
Definitely talk to an attorney as that is one of the important questions you will have to answer during your bankruptcy.