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Money Received Before Filing of a Chapter 7 Bankruptcy

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  • 08-15-2009, 11:05 AM
    DIANNELEE123
    Money Received Before Filing of a Chapter 7 Bankruptcy
    Chapter 7 in NY.
    I had borrow money from a old friend that relocated. I finaly made the last payment of $800.00 to him 3 month before I filed a petition in NY on May 2009. It is a old and paid debt. Do I have to track him/her down to get the money back becuase I gave money that was owed within one (1) year of filing?

    :confused:
  • 08-17-2009, 10:07 PM
    Mr. Knowitall
    Re: Chapter 7
    Maybe. You'll have to wait and see what the trustee expects, or what the judge orders.
  • 08-18-2009, 12:19 AM
    KeyWestDan
    Re: Chapter 7
    VERY unlikely.

    You personally don't have to do any such thing.

    If you can show a pattern of other payments and/or get a notarized sworn statement from him attesting to the loan and payments, then no chance at all will the court care or do anything about it.

    I can't imagine a bankruptcy court or trustee trying to get back $800 from an individual in another state that paid a legit obligation.

    If that is a significant amount in regards to your bankrputcy petition, you probably shouldn't have bothered to even file it.
  • 09-02-2009, 01:42 PM
    JohnO
    Re: Chapter 7
    If the trustee wants to invoke the preferential payment rule, he will have to file papers with the Court. The chances are slim to none that he will do so because it is only $800 and the trustee is payed a percentage of whatever he recovers. That's my slant.
    It is NOT UP TO YOU to ask for any payments to be returned.
  • 09-02-2009, 02:01 PM
    Betty3
    Re: Chapter 7
    Agree with the other two responders - don't you do anything in regard to the money.
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