transfering funds to a different account

[isla1]

good Advice!

Thanks to all! I appreciate everyone's comments and advice. I just got The Nolo BK book. Will read it from cover to cover!

[AngelinaCatHub]

Thanks to all! I appreciate everyone's comments and advice. I just got The Nolo BK book. Will read it from cover to cover!

That's a GREAT start. We all wish you good fortune. Keep us posted. 'Hub

[nichole04]

All I was saying is that I paid my dad back money last April that I borrowed from him a few months prior. I was just trying to be helpful in that my lawyer said I needed to wait to file bk this coming April to put a year behind the time I paid him. When I paid him last April I wasn't even thinking about filing bk. I had a small business that went under in December and that is why I am filing. I am not or was not in any way trying to hide assets before filing. Just wanted to clear things up. Thanks.

[isla1]

thanks

Thanks Nicole, I totally understand!

[Scholar]

preferential treatment

preferential treatment is paying back one particular creditor while not paying other creditors in the same proportion. This is true before or AFTER bankruptcy. Do NOT pay back family members after you discharge debts you owed them before the bankruptcy. Doing so is preferential treatment and would cause an objection from the other creditors. You must treat all creditors (family members or not) the same before and after the discharge.

[HHM]

preferential treatment is paying back one particular creditor while not paying other creditors in the same proportion. This is true before or AFTER bankruptcy. Do NOT pay back family members after you discharge debts you owed them before the bankruptcy. Doing so is preferential treatment and would cause an objection from the other creditors. You must treat all creditors (family members or not) the same before and after the discharge.

Where did you get that from? Once your discharged, you can do whatever you want with your money. The money being paid back to "insider" creditors "after" BK is not part of the BK estate, there is no such look forward objection that I am aware of. Maybe you can enlighten us.

[junquemayle]

Where did you get that from? Once your discharged, you can do whatever you want with your money. The money being paid back to "insider" creditors "after" BK is not part of the BK estate, there is no such look forward objection that I am aware of. Maybe you can enlighten us.

I think he meant before and during, rather than after.

This thread reminds me that I have been making monthly $250 payments to a family member for a debt that has no paperwork (I borrowed $30k for a house renovation). I can still pay him back after BK. But what about during - would the Trustee pay without any documentation??

[norcal]

I owe my parents money and hadn't started paying them back yet. My lawyer told me to not pay any money while we are in the process of filing and to also not make any payments to them until after we are discharged. They will be listed as a creditor on my bankrupty.