Quick question about preferential transfer ..
My mom and I co-signed a vehicle together in February after an accident, I knew my tax return was coming so she offered to front me the money for the down payment. I then wrote out three checks to her ... $500 $1000 and $300 for car payment and down payment. Is there a chance they will ask for that back? (Checks were wrote in March and April). Thanks!
My mom and I co-signed a vehicle together in February after an accident, I knew my tax return was coming so she offered to front me the money for the down payment. I then wrote out three checks to her ... $500 $1000 and $300 for car payment and down payment. Is there a chance they will ask for that back? (Checks were wrote in March and April). Thanks!
I'm just glad the money I owe my dad hasn't had a penny paid back or the trustee could have seized it. I just keep getting farther in the hole with him, especially with all the equipment I needed to buy for the new job I started today. Since this was for a vehicle she co-signed on it may be looked at differently, but I would definately see what your lawyer has to say. You may get lucky though since this area is supposed to be somewhat easygoing right now. I know the payments I had to list as over the limits the trustee said weren't big enough to be worth pursuing and technically they weren't preferential anyway, the minimums were high enough to put me over.
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