Re: Bankruptcy filing...

Posted by celce (152.163.201.77) on July 02, 2002 at 20:25:10:

In Reply to: Okay, that makes sense.... posted by Barbara on July 02, 2002 at 18:20:10:

You should not feel intimidated because you lack business savvy...not everyone can be an expert about everything.

In answer to your questions regarding bankruptcy...you didn't mention what state you were in...that is important as to your house. The records that the bk trustee would be looking for is accounts that were closed within one year of the filing date, any transfers of property, including cash over $200 in the last year and any charges or payments to creditors within 90 days of the filing. Sometimes the trustee will look to unusual activity...spending, paying within 180 days. Basically this is to prevent anyone from transferring assets in order to hide them and paying some creditors in favor of others (like a loan from your family paid back right before bankruptcy...this is a no-no).

If you have any other questions feel free to ask and I will answer them to the best of my knowledge.

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