In Bankruptcy Can I Can I Pay Certain Creditors First?
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The answer is simply no. In fact if you pay a creditor more
than you are paying to your other creditors, then they may be required by your bankruptcy
trustee to give back that extra money so that it is shared among all of your
creditors, although this situation is very uncommon in the typical bankruptcy.
In both Chapter 7 and Chapter 13 bankruptcy, your bankruptcy
trustee will want to be sure you did not defraud your creditors by paying one
more than another. They will review your
information for “insider” payments. An “insider”
is a relative, friend, or business associate. Any payment or property transfer of over $600
in the year before your bankruptcy may be reversed. This scenario very rarely arises.
Your Georgia bankruptcy attorneys at King and King will know
what the standard procedure is in your local bankruptcy court. Call King and
King for a free consultation today 404-524-6400.
