A "preference" involves paying a creditor more than the creditor would receive when a Bankruptcy is filed. In other words, there must be a creditor involved for there to be a "preference". Putting money borrowed money back into a 401K account is not considered to be a "preference", because the money is being "borrowed" from yourself - there is no creditor involved.
I think this is what you wanted to know. If not, please let me know.
ok, thanks, XXXXX XXXXX case then, will the transaction be allowed by the trustee? I have a couple other questions also, should I enter them each on the site or can i ask you?
Yes - since repaying the money you "borrowed" from your 401K would not be considered to be a "preference", the trustee will allow it.
thanks, XXXXX XXXXX questions I have should be each entered on the site I guess
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).