If someone pays me 30 days before filing bankruptcy, do I have to give that money back to the courts?
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If someone pays me 30 days before filing bankruptcy, do I have to give that money back to the courts?
Asked on May 10, 2012 under Bankruptcy Law, Pennsylvania
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
You will need to probably add that to the assets you have. You are not paying the court per se but the trustee needs to know (especially in a Chapter 13 reorganization) what monies you obtained. He or she will need to know if the monies you obtained from another person could be categorized as exempt and not have to be used as part of the assets in the balance sheet or whether you must report as it will impact how your debts can be reorganized. Same holds true for the Chapter 7 bankruptcy, wherein a person seeks a full discharge.
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