I recieved a divorce settlement.Can i use it to pay off a credit card and some mortgage debt before filing for bankruptcy?

Asked 9/2/2009 under Bankruptcy | 230 View(s) | More Legal Topics

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Terri Brown / Terri L. Brown, Attorney Answered 2 years ago | Contributor with 0 answers This attorney is licensed in Georgia

Why?  If you are filing for bankruptcy the last thing you want to do is throw more money away.  Unless you are trying to save your house and you need to catch up on the mortgage.  Or these payments could keep you from filing at all I cannot think of any reason why you would.  All payments that are paid within a certain period of filing are subject to being brought back.  You don't get the money back but the party that you paid probably won't get to keep it either.  You should talk to a bankruptcy attorney before you make any decisions. 

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