Is there any point I can make during the 341 meeting that might influence the trustee's decision on a preferential transfer?

Asked about 1 year ago - Nashville, TN

My niece gave me a $1000 short term loan in June of last year that I repaid in September.
- The loan was intended to help make ends meet during a temporary financial shortfall.
- The loan was repaid as agreed.
- During the loan period I repaid other unsecured creditors more than $1000.
- During the loan period I spent more than $1000 on living expenses.

I'm assuming this item will be brought up during the meeting of creditors. I'm not certain if the terms of the loan or how I used the money matter at all, but, obviously, I would prefer that the Chapter 7 trustee not go after my minor niece for the money. Is there any point that I can make regarding this transfer that might influence the trustee's decision?

Attorney answers (1)

  1. Ronald Lee Burdge

    Pro

    Contributor Level 20

    1

    Lawyer agrees

    Answered . You should talk to your bankruptcy attorney or you will need to talk to a local Bankruptcy Law attorney near you who deals with your specific kind of case. You can look for one at www.Nacba.org, the national organization of bankruptcy attorneys. You can also look on Avvo.com under the Find a Lawyer tab. Or you can call your local attorney's Bar Association and ask for a referral to a Bankruptcy Law attorney near you. But act quickly because for every legal right you have, there is only a limited amount of time to actually file a lawsuit in court or your rights expire (it's called the statute of limitations), so don't waste your time getting to a Franchise or Business Law attorney and finding out what your rights are. If this answer was helpful, please give a “Vote UP” review below. And be sure to indicate the best answer to your question so we can all be sure we are being helpful. Thanks for asking and Good Luck. Ron Burdge, www.BurdgeLaw.com

    Click here to find a Bankruptcy Law attorney near you, from NACBA.org
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    This answer is for general purposes only and does not establish an attorney-client relationship. The law in your... more

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