http://www.bankruptcylawnetwork.com/2007/01/31/before-i-file-bankruptcy-can-i-pay-my-brother-back-the-2000-he-lent-me-six-months-ago/ Real Lawyers, Real Solutions Tue, 10 Nov 2009 16:34:06 -0700 http://wordpress.org/?v=2.8.6 hourly 1 http://www.bankruptcylawnetwork.com/2007/01/31/before-i-file-bankruptcy-can-i-pay-my-brother-back-the-2000-he-lent-me-six-months-ago/comment-page-1/#comment-5487 Just File for my Business, Please! at Bankruptcy Law Network - Real Lawyers, Real Solutions Fri, 22 Jun 2007 05:20:46 +0000 http://www.bankruptcylawnetwork.com/2007/01/31/before-i-file-bankruptcy-can-i-pay-my-brother-back-the-2000-he-lent-me-six-months-ago/#comment-5487 [...] A more dangerous reason is that a Chapter 7 trustee will still have a job to do: Liquidate the company assets and recover any avoidable transfers. If you paid yourself or other insiders back money you loaned to the company, especially in the last year, the trustee may be asking for that money back. So not only won’t your company get out of debt but you may be forced to repay money you probably don’t have anymore. [...] [...] A more dangerous reason is that a Chapter 7 trustee will still have a job to do: Liquidate the company assets and recover any avoidable transfers. If you paid yourself or other insiders back money you loaned to the company, especially in the last year, the trustee may be asking for that money back. So not only won’t your company get out of debt but you may be forced to repay money you probably don’t have anymore. [...]

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