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paying $600 or more to multiple creditors within 90 days

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paying $600 or more to multiple creditors within 90 days

I should have started my own thread to a question i had posted 

 

@Sammy64 wrote:
Quick question, and sorry to piggy back in this one..
Is that $600 total for 90 days.. if I paid 250 one month, and 250 for the 2nd 3rd, would that be considered more then the $600.. or is that just in one month during the 90 days I paid thev$600

Who did you pay? Anything to 1 creditor and ignoring the others is a no no. Dont be scared to start your own thread. Dont be shy. 

 

I have started the bk process, and i rememebr one of the questions in the form i was given asked if have i paid $600 or more to any creditor within 90 days of filing for bk, I have given more then the $600 to multiple creditors within the 90 days before i talked with my attorney. I have stopped paying everyone (I did make a $100 payment to one creditor last week before talking with attorney) last week following the attorneys advice. 

 

Thanks  

Sam 

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Re: paying $600 or more to multiple creditors within 90 days

I'm not sure I'm following the thread here, but I think you're asking if multiple payments, when added together, and exceeding $600, would cause an issue. The short answer is they may be a problem. But really, unless you plan to reaffirm the debt, the problem is for the lender -- not you. If the trustee claws back some preferencial payments, it's the lender's issue. I would consult with an attorney if the payments are regular monthly payments (e.g. mortgage payments) and you are concerned.

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Re: paying $600 or more to multiple creditors within 90 days

Sorry, Tha was hard to follow... 

 

One of the questions on form 107, Part3.. " During the 90 days before you filed for bankruptcy, did you pay any credtitor a total of $600or more"

I have made several payments of $300+ per month to multiple CC's  before i decided to file.  The orignal question from a differnt post had me thinking i might have made a error. but the question states before, and not during..  On the same day i hired the Attorney i had made a $100 payment , and now understand that might have not been a good idea to do, and will follow my attorneys advice...

 

 

 


@leonel9 wrote:

I'm not sure I'm following the thread here, but I think you're asking if multiple payments, when added together, and exceeding $600, would cause an issue. The short answer is they may be a problem. But really, unless you plan to reaffirm the debt, the problem is for the lender -- not you. If the trustee claws back some preferencial payments, it's the lender's issue. I would consult with an attorney if the payments are regular monthly payments (e.g. mortgage payments) and you are concerned.


 

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