trustee is going to flip!! HELP

[goingunder]

I have been reading about prefferential payments. How about $25000 to discover card within 6 months! I dont know how this is going to work? Here goes.

Hubby was a truck driver, he used the discover card for fuel. We tried to pay it off after each load. We always paid between $1000 - $2000 back at a time. the current balance is $9600.

Also, he was leasing a semi from his cousin who owns the company he was driving for, are these expences preferential too?

What about payments he made to co-driver ? (My dad and hubbys uncle both drove with hubby at times)

Could we actually end up any worse off than we are now? Hubby finally decided to give up driving and is currently looking for a more stable job, but in the mean time, he has been working odd jobs for his dad and sister. I suppose this will be a problem too?

We have paid our retainer fee and are awaiting filing. This sounds like it could very well destroy us and our family members. What to do, What to do?

[HHM]

First thing you need to realize about preferential payments, the trustee does not go after you, the trustee goes after the people (and sues them in BK court) to whom you made the payments.

However, without more background, it is hard to say whether these are preferential payments.

[bige1030]

[possumfat]

I made several pref. payments to credit cards within the 90 period, most were around $2,000 but one was $15,000..............trustee went after the big only and settled with them for $7,500.

The smaller 2K payments are not worth their time..........

[no_it_all]

We have paid our retainer fee and are awaiting filing. This sounds like it could very well destroy us and our family members. What to do, What to do?

Why don't you ask your attorney? He will probably give you more insight than anyone here would....

[anonymuse]

I would **think** that the leasing part isn't an issue since it is payment for a secured debt.

It's the preferential treatment given to unsecured creditors that is at issue.