Legal Question in Bankruptcy in California
''perference'' and ''insider'' Form 7 Statement of financial affairs
I received a lump sum of money from ssdi and payed my
mother 2500 dollars for back rent, food and nescesities.Would this be considered preference treatment to an insider?I was back in july 2000
Asked on 5/12/01, 4:26 pm
1 Answer from Attorneys
Mark Markus
Law Office of Mark J. Markus
Re: ''perference'' and ''insider'' Form 7 Statement of financial affairs
If you file your bankruptcy case within one year of July 2000, it could be considered a preference. However, if you have sufficient exemptions available, and depending on where your case is filed, I doubt the Trustee would do anything for that small an amount of money. The safest thing to do is wait until after a year has passed.
Answered on 6/21/01, 2:33 pm
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