Insider payments

[Freshstart88]

I received a large loan from my dad and paid him back last year ($20k). If I wait just over a year from the date I paid him back to file, will it be safe from being clawed back by the trustee? I don’t want my dad to even know I’m filing, let alone get sued for money he lent me.
Is there any safe way around this and to make sure to 100% keep him out of it?

[MotherJugs]

From Law Firm: The trustee’s right to avoid preferential payments made in the 90 days or one year preceding bankruptcy is intended to prevent the debtor from picking and choosing who gets paid. So, the rule only applies if the debtor was insolvent at the time of the payment. In simple terms, “insolvent” means that the bankruptcy filer’s debt exceeded his or her assets. Without crunching the numbers, a person wouldn’t necessarily know whether he or she was legally insolvent. Don’t assume that just because you were earning money and paying your bills at a given time, you weren’t insolvent.

If you are a full year away from the $20k repayment to dad at the time you file, you're in much better shape than if it was within the last year.

If asked, don't lie about it, but don't offer any more information than you have to. Good luck & keep us posted.

[justbroke]

Waiting a year could certainly help with the lookback and with what you are required to put on your bankruptcy Statement of Financial Affairs. I can't say whether a Trustee may not look closer or ask, at the 341 Meeting,