Insider question

[Lajazz947]

Could i arrange to pay the trustee the amount of the insider payment that I made instead of him coming after the insider?

[JRScott]

I believe Cat and Hub are doing that now. I'm not sure of the details of their situation so yes I think it is possible. Perhaps ask your lawyer and see what he thinks.

[AngelinaCat]

Yes, we are doing that very thing. I am not sure that you can arrange it before a 2004(b) Exam determines that there was an 'insider' transfer. The Trustee's Examiner offerred a settlement that involves paying back to the Trustee about 2/3 of what the total amount was to our son-in-law and god-daughter. So far, so good. This is pending waiting for 20 days to pass in case any creditor files an objection, but since our major debt is to IRS anyway, they will eventually get what is paid to the Trustee. But this is a very good question to ask your lawyer.

Good luck.

[ssdsco]

Could i arrange to pay the trustee the amount of the insider payment that I made instead of him coming after the insider?

According to my attorney/trustee that's preferred.

Rather than the trustee having to go after the insider and possibly having to file a lawsuit and maybe getting nothing you offer 50-75 % settlement from exempt assets or a generous relative or something.

[AngelinaCat]

According to my attorney/trustee that's preferred.

Rather than the trustee having to go after the insider and possibly having to file a lawsuit and maybe getting nothing you offer 50-75 % settlement from exempt assets or a generous relative or something.

That's interesting to know. Our worhtless attorney sat on the offer for 15 days before she forwarded it to us ON THE VERY LAST DAY TO RESPOND. We responded very hurridly and this for us is the last straw, and why we are discharging our 'boar's tit'.

The 'boar's tit' wanted to ignore this compromise and have the Trustee go after our payees. That isn't right, they should not be penalized for our stupidity.

We have a stipend every January from a trust that is in the form of an annuity payout. From this we pay our property taxes, health insurance and other things. We figure that we will have enough to pay the Trustee after the first of the year. Worthless 'boar's tit' would take that option away from us. These are OUR decisions after all.

Okay, enough of my rant. Good luck to you.

[Lajazz947]

Very interesting. I never thought about negotiating this.

My attorney, who seesm to be a pit bull said that he would speak to me next week (he's out of town) about the various ways to deal with insider payments.

I will keep you all posted.

[AngelinaCatHub]

Yes “Jazz” you must watch out about whom you pay. We have (so far) a wonderful Trustee and an “investigative attorney”. We have a p*ss poor lawyer who is either too busy, or not interested and when interested gives us grief. I would rather go to a dentist for a root canal w/o novacaine than deal with her. We addressed the Court in a motion to go pro se. Now we get to extend our case for this motion. You cannot even fire a damned incompetent lawyer. I would never state that to any other lawyer, as you never know when she EEFFFF’s up they let things slide to protect her.

I believe in our case, she has been protected, ergo, I shall simply plead, she has done her job to date, and as we have no more money we will continue on our own. I have yet to hear from her at all in months, yet her paralegal (no better than her) said she would call me (two weeks ago). 'Hub