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.
Submitted by southernapostolic on Mon, 09/07/2009 - 14:50
( Posts: 302 | Credits: )
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.