I wonder what will happen ???

[Egrain]

Well,
Our petion for CH. 7 was filed today. The only "RED FLAG" my attourney saw was the fact that over a year ago we bought our daughter a refrigerator when hers went out. (did I mention that she has 5 kids-3 in diapers and 1 w/special needs). Then last summer before we even thought about filing we replace her hot water heater when that went out. The fridge was about 1400 and the heater and installation was about 800.
My attorney didn't hink it would be a huge issue, but it was really up to the trustee.
Any guesses from any one what might happen with these things??
My 341 is in mid Jan.

Egrain

[MSbklawyer]

5 kids-3 in diapers and 1 w/special needs)

OMG, I would run away.

It's a potential fraudulent conveyance issue. But most of the trustees I've ever worked with wouldn't bother with it. Worst case, you'd have to pay the money back to the trustee for distribution to unsecureds.

[Egrain]

OMG, I would run away.

LOL It took me a minute to figure out that you were running from the kids and not the court. I am a caregiver to these 5... why should a mear court proceeding make me nervous. LOL
Egrain

[Michigan1951]

Isn't the look back a year for giving money? And, charging a gift to give someone during that time is considered the same thing or not?

[LALADY]

They look at gifts, cash transfers, personal and real property transfers, some for one year and some for two years. You can look the bankruptcy rules up online or purchase Nolo's Chapter 7 or Chapter 13 books for detailed rules. I strongly recommend researching these books before hiring an attorney so you know what questions you need to ask your attorney.

[LizardTail]

With all due respect, I do hope your daughter is on birth control, or other. It seems to me that neither you, nor your daughter have the financial capability to properly care for that many children.