the bankruptcy trustee?
This is a very difficult situation, especially if you paid money or transferred assets within 3 – 24 months before bankruptcy. Discuss this with your bankruptcy attorney before you pay money or transfer any assets since not all such transactions are permitted under the Bankruptcy law, but may be permitted under your state law. The 2005 Bankruptcy Reform Act has added several very complicated hoops to planning for a bankruptcy. Paying down mortgages within the last 10 years, buying or transferring assets in the last 2 years or more, paying friends or relatives money in the past 12 months may all be doorways for the Trustee and your creditors to attach your assets. Given the current status of the new law – never plan for your bankruptcy without seeking assistance from an experienced bankruptcy lawyer. By “experienced” I mean someone who practices only bankruptcy law, is in good standing with the State Bar, and has a great reputation in the Bankruptcy Court.
Related Questions
- Are payments received from Pathfinder subject to recovery in the event the Bankruptcy Court trustee seeks to recover monies previously paid to Gramercy Court lenders?
- How does a person buy back their own assets from the bankruptcy trustee?
- What kind of questions does the bankruptcy trustee ask people?
