Car sold before BK

[aimermoi]

Hello all.
I am new here and thinking about BK, and I found this forum.
I have just sold a car to my in-law for cash at a lower fair market value (since he paid me cash). He is living with me in the same house at this time.

Is there any problem with that if I file now? If there is, how long I need to wait to file, so that the transaction doesn't appear to be questionable.

Moreover, what can/should I do to reduce the risk of being questioned.

Thanks

aimermoi

[liz417]

Yes, that may raise some questions with your Trustee. I'm not sure of the time frame that you should wait before filing (I'm sure someone with more knowledge will come along soon). What are you using for transportation now and how much money did you sell the vehicle for? Also, are you going to file for a 7 or 13?

[keepmine]

You'll be asked if you have disposed of any property in the last 12 months. A lot will depend on how much money is involved in the transaction.