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Recent Preferential Payments questions

We need to respond to a summons and notice of pretrial

We need to respond to a summons and notice of pretrial conference on preferential payment. We are seeking a legal firm but I need to respond by tomorrow.JA: Because laws vary from state to state, could you tell me what state is this in?Customer: the bankruptcy is in Delaware and we are in OhioJA: What state are you in? And has anything been officially filed?Customer: We are in Ohio and yes we received notice they want us to pay back $ 51,603.JA: Have you talked to a lawyer yet?Customer: Left a message and sent an email. Time got away on this so I am behind and need to get a response to them by tomorrow and then will let the attorney take it from there.JA: Anything else you think the lawyer should know?Customer: NoJA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Bankruptcy Lawyer about your situation and then connect you two.

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

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State is NJ.What is the applicable time periods during

State is NJ.What is the applicable time periods during which preferential payments to any creditor can NOT be made?Considering filing for 7 or 13 by myselfMade payments to wife's credit card (not a joint account) from a joint checking account.Wife does not work and not filing BC.Payment to wife's credit card, will that be considered a "payment to insider"?

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DrakeLAW

Juris Doctorate

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I have a 341 hearing tomorrow.question: about 12 months

i have a 341 hearing tomorrow.question: about 12 months ago my brother gave me 2kthen i paid him backthen he loaned me 3khe's obviously an insiderthere is an exemption from preferential transfersDefense to a preference action includes “new value.”what shoudl i expect at my 341 meetingis my defense to preference action going to get my brother out ofremitting 2k to the trustee or is it up to the bankruptcy trustee

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DrakeLAW

Juris Doctorate

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I need help with Bankruptcy/Protecting myself from

I need help with Bankruptcy/Protecting myself from Fraud/consequences.I was a stable homeowner and then became disabled, trying many things to get well. Finally one day I decided to take a leap, and live off my credit cards (based on a spiritual teacher's guidance). I hoped I would recover and gain energy to pay the debt off.A series of misfortunes occurred (my new home burned down while I was in Hawaii, so I stayed in Hawaii....). I focused on writing a book based in that setting and getting my health back.Now, I've maxed out my cards $100,000K of debt, much of it the past 6 months when I moved back to the mainland. I have a serious mental health issues and was unstable (moving from place to place) for nearly 2 years before securing housing/medication.I've paid back friends and family through Paypal using credit cards...large amounts, $2K at a time, sometimes. I've paid rent, groceries, travel, etc. (not jewelry or clothes).I have no real possessions of value and very little money....would like to find an alternative to bankruptcy but barely making it on a disability income (not currently able to work).Do you recommend Bankruptcy Chapter 13 (Colorado)? How do I protect myself from charges of fraud, being asked to pay it back, court stuff, etc? Judgements?I've considered changing my phone # ***** have not given my new mailing address, but is this irresponsible/problematic?What is the best most responsible way to handle this debt?Thank you.

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Phillips Esq.

Attorney

Juris Doctor

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Is Bankruptcy right daughter? A single mother (Son is 2

Is Bankruptcy right for my daughter? A single mother (Son is 2 1/2), living w/ an aunt. Full-time job, biweekly pay; net $720-ish. ridiculous ($432)car payment 2008 Dodge Grand Caravan (111k mi) ** Car dealer told her to return previous vehicle to get rid of debt obligation so previous vehicle is considered to be repo'ed** : Student Loans w NelNet, sold to Sally Mae; Current approx living expenses w/ aunt $400/mo + food; add car & health insurance, normal medical costs + other incidentals...

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DrakeLAW

Juris Doctorate

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HiI am a beginner bankruptcy attorney.I have this situation.

HiI am a beginner bankruptcy attorney.I have this situation. In a Chapter 7 I want to reaffirm a mortgage on an investment property which equity excluding exemption is approximately $10,000. Trustee wants to sell the house. Client is current on mortgage payments. Client reaffirmation does not present a burden.My questions is, what happens with the mortgage payment during the process of selling the property? Do clients need to pay it or stop payments? I am 90% sure that trustee will eventually abandoned the property.How it affects income and expenses schedules were mortgage payment was included as expense?Any help will be appreciated.

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WALLSTREETESQ

Attorney

Doctoral Degree

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My daughter in PA just filed Chapter 7 bankruptcy. Does she

My daughter in PA just filed Chapter 7 bankruptcy. Does she need to pay any creditors listed in the bankruptcy while she is waiting on the court process?

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Roger

Litigation Attorney

Doctoral Degree

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My company is in extreme financial stress. I want to settle

My company is in extreme financial stress. I want to settle a debt with one of my suppliers that I currently owe $7,000. I have offered to pay them a lump sum of $2500 to settle the debt. If I have no choice but to pay the $7,000, there is a possibility it will force me into a negative situation where I then might need to seek bankruptcy protection (Chapter 7) liquidation. The vendor's attorney has asked how his client can be protected from a preference payment. I just really want them to accept the settlement. Can you advise how I should proceed?

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Roger

Litigation Attorney

Doctoral Degree

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1 A con man tricked you into investing $10,000 in precious

1 A con man tricked you into investing $10,000 in precious Nigerian gems. The con manpromised a $1,000,000 return on your investment. Your $10,000 investment disappeared. Youtook swift action and sued the con man in state court. After months of litigation you won ajudgment against the con man. The Judge said you were defrauded. Right after you get thejudgement the con man filed bankruptcy. Can he get away with this? Is there anything you can doand under what authority under the bankruptcy code? Please explain fully your answer.2. You got repaid the $5,000 you lent your cousin the day before he filed bankruptcy. Nowyou've just been served a summons and complaint by the trustee in your cousin's case. You arethe defendant and trustee wants the $5,000 back from you. Can the trustee do this? Will he win?You didn't even know your cousin was going to file bankruptcy. Please explain fully your answerand under what authority under the bankruptcy code are you relying on.3 Your father-in-law gives you lake front property in Tahoe as a present when you graduate fromcollege. Your father-in-law keeps the keys to the property and uses it often, if not more thanbefore. Nine months later your father-in-law files bankruptcy. The trustee serves you a summonsin your father in law's case. The trustee wants either the Tahoe property back from you or hewants what the property is worth. Can he do this? Will he win? Please explain fully your answerand under what authority under the bankruptcy code are you relying on.

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WALLSTREETESQ

Attorney

Doctoral Degree

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