hmta1982 Posted March 29, 2012 Report Posted March 29, 2012 (edited) Hi,I make a payment to my cousin every month ($200). Now I filed Bk 7. Their name on bank statement. Do I need to report this to my Attorney? And how much I have to report back (90 days?).I do not have file ID or something to said for I am filed Bk? My Attorney said my file is on his 4,5 he have some case to do first. And I received a statement from 1 CC I still make monthly payment. Can I not to pay this CC for next month?Please advise. Thank you. Edited March 29, 2012 by hmta1982 More to ask.
Denita Posted March 29, 2012 Report Posted March 29, 2012 Your cousin is an insider - yes, report the payments to your attorney. Insider payments have a one year lookback.Any payments made to your debt within 90 days of filing are preferential payments. Report this to your attorney too.Didn't he give you a large packet of paperwork to fill out that asked all kinds of questions? These questions are in the packet along with a bunch of others. if you don't have that packet of paperwork, ask him about it.
hmta1982 Posted March 30, 2012 Author Report Posted March 30, 2012 Thank you for reply.I fill out the paper and signed with him when in his office. So now, I just email back to him things like tax, paycheck, credit report ...Well, all of my payment make by my checking account ( do they will look back for a year?Now I have a bill to pay (CC bill) do I need to pay them or not? I am newbie to this. Please advise. Thank you.
Coltfan1972 Posted March 30, 2012 Report Posted March 30, 2012 You've got a lot of questions that you should not have if you have a BK attorney. He/She should have fully answered all these questions for you. I'm worried about the atty you have if you have these type of questions. Not telling you not to post, glad you are here, but the questions you are asking are ones that should have been fully gone over and explained to you by your attorney. These are important questions, you are filing a federal BK and should not have to rely on a message board to get the answer to the questions you are asking. Your questions are not asking for opinions or trial strategy, but black letter of the law answers. Your atty should be answering those until you fully understand. Filing BK is a huge, huge deal and you should not be left confused about the law.
WhoCares1000 Posted March 30, 2012 Report Posted March 30, 2012 The problem is that this person freaked out and went too fast without understanding what they were doing. I am sure most of us on this board (including myself) have done this in the past and then look back and realize that if we knew then what we know now, we might have done things differently. Hindsight is always 20/20.
Coltfan1972 Posted March 30, 2012 Report Posted March 30, 2012 Yes, but the OP has hired an attorney that attorney should be available to answer these questions of law. Most of the hindsight on this board is I wish I knew about the DV process, how to challenge standing, that I did not have to talk to the collector on the phone, ect...Filing a BK can be a life changing decision, it's something that you don't need to have doubts about and if you do and have an atty hired, should be able to get those answers from the paid atty. These are questions about BK law, not strategy or opinions. I think the OP needs another sit down with their attorney.
hmta1982 Posted March 30, 2012 Author Report Posted March 30, 2012 Thank for all reply. I know nothing about BK that why I came to this forum to ask because your guy are all Pro. and know everything to advise for the newbie like me. Everything I ask your guy I also ask my Att. too. If something cause you are confuse and/or trouble please forget for me.This is the first time in my life I don't know to do anything. I am so ... :(
Coltfan1972 Posted March 30, 2012 Report Posted March 30, 2012 You're fine, but we are not really BK experts for the questions you're asking. You said you asked your atty, but you obviously are still very confused. It is such an important thing, I just think you should have another sit down with your attorney. Ask all the questions you want, that is what this place is for. If it came across I did not think you should ask questions, I'm sorry. I'm just trying to stress that the questions you're asking are not the usually type of "collection" questions. You're asking legal questions and in my opinion those are questions your atty should be fully explaining to you. Please stay and continue to post.
Denita Posted March 30, 2012 Report Posted March 30, 2012 Have you actually met with your attorney or are you working with the paralegal in his office?I have to agree with the above, the attorney should have provided guidence to you for these legal questions. I'm not an attorney and I don't think Coltfan and whocares are attorney's either. Having said that, its better you ask questions rather than make assumptions. But the best source of answers for your bk is your attorney because he has all your information right in front of him.
Coltfan1972 Posted March 30, 2012 Report Posted March 30, 2012 I'm not an attorney and I don't think Coltfan and whocares are attorney's either.I am not an attorney and while I do not know for sure, I do not believe whocares is either.
hmta1982 Posted March 30, 2012 Author Report Posted March 30, 2012 (edited) Thank you all a lot.My question is after I fill out amount I own my cousin. Do they (my cousin) have to repaid back to me or I got discharge from them or something else I do not know? Thank you!!! Edited March 30, 2012 by hmta1982
LearningasIgo Posted March 30, 2012 Report Posted March 30, 2012 Hi,And I received a statement from 1 CC I still make monthly payment. Can I not to pay this CC for next month?Please advise. Thank you.I can't think of any reason to continue paying any bill like a CC if BK is around the bend.
hmta1982 Posted March 30, 2012 Author Report Posted March 30, 2012 I can't think of any reason to continue paying any bill like a CC if BK is around the bend.Thank you Thank you ...
LearningasIgo Posted March 30, 2012 Report Posted March 30, 2012 Thank you all a lot.My question is after I fill out amount I own my cousin. Do they (my cousin) have to repaid back to me or I got discharge from them or something else I do not know? Thank you!!!If I understand this, you owe your cousin a debt. If you list that debt in the BK and obtain a discharge, you no longer owe that debt to your cousin. Might want to skip the Thanksgiving gettogether, though...
jq26 Posted March 31, 2012 Report Posted March 31, 2012 The issue: trustees have been very agressive in sending out letters to creditors where preferential payments have been made. Your cousin will then have to send the trustee the amount sought. It could be $600, or they could label your cousin an insider and go for much more with the extended lookback. Just this topic came up during a recent job interview with a bankruptcy law firm. Preferantial payments and tax returns are hot items right now for trustees to recover...So the issue isn't really your issue. Your filing potentially becomes your cousin's issue. In these cases, the bk attorneys tend to have you delay yor filing long enough to eliminate this issue.
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