Secured business debt payment/sales

[isaiah60]

I'm in the process of filing out CH7 forms. I only have 1 secured loan for a business I started, secured by the restuarant equipment. I've been selling the equipment and giving the money to the secured lender per an agreement we made.

Question- does the court view this as preferential payments to a creditor? Should I stop doing this?

Thanks for your help folks- this forum is great

[lrprn]

I'm in the process of filing out CH7 forms. I only have 1 secured loan for a business I started, secured by the restuarant equipment. I've been selling the equipment and giving the money to the secured lender per an agreement we made.

Question- does the court view this as preferential payments to a creditor? Should I stop doing this?

Since you have business dealings mixed up with your personal bankruptcy, Isaiah60, that complicates bk matters a great deal. If I were you, I would make appointments with 3-4 bankruptcy lawyers in your area. Most give free half-hour to hour consultations. After talking with them, you know more about how questions like this one will be viewed in your particular bk district.

Also filing pro se (without a lawyer) in a case like yours that's tangled up with business expenses is very risky. Trustees typically look at cases like yours very closely, so having a good bk lawyer on your side is worth whatever it costs you.

[YRUSODUMB]

get lost, business questions, we don't do those here, please delete your thread buddy??? Moderator please delete this thread, no use to us. thx

[lrprn]

get lost, business questions, we don't do those here, please delete your thread buddy??? Moderator please delete this thread, no use to us. thx

YRUSODUMB, this is the kind of post that's going to get you banned for good. Minny doesn't have patience for posters who don't learn their lesson after being warned. The little red triangle got a click from me for this post of yours - Minny will be coming around.

You're supposed to be a big-time gambler - I'm willing to bet if Minny does delete a post whose post it will be (and it won't be isaiah60's and it won't be mine to him either). This one might bite the dust because I quoted you - good riddance.