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  1. #1

    Default 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?


  2. #2
    Join Date
    Sep 2005
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    Behind a Desk
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    98,846

    Default Re: Chapter 7

    Maybe. You'll have to wait and see what the trustee expects, or what the judge orders.

  3. #3
    Join Date
    Mar 2009
    Location
    Key West, FL
    Posts
    2,350

    Default 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.

  4. #4
    Join Date
    Aug 2009
    Location
    Arizona
    Posts
    8

    Default 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.

  5. #5
    Join Date
    Apr 2007
    Location
    Il.(near StL,Mo.)
    Posts
    5,252

    Default Re: Chapter 7

    Agree with the other two responders - don't you do anything in regard to the money.

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