If someone pays me 30 days before filing bankruptcy, do I have to give that money back to the courts?

Get Legal Help Today

 Secured with SHA-256 Encryption

If someone pays me 30 days before filing bankruptcy, do I have to give that money back to the courts?

Asked on May 10, 2012 under Bankruptcy Law, Pennsylvania

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

You will need to probably add that to the assets you have. You are not paying the court per se but the trustee needs to know (especially in a Chapter 13 reorganization) what monies you obtained. He or she will need to know if the monies you obtained from another person could be categorized as exempt and not have to be used as part of the assets in the balance sheet or whether you must report as it will impact how your debts can be reorganized. Same holds true for the Chapter 7 bankruptcy, wherein a person seeks a full discharge.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption