Paying Relatives Before Bankruptcy Is A “No-No” Why You Should Wait
There can be serious consequences for repaying relatives before filing a bankruptcy. If you repay your relatives before filing bankruptcy, they may be forced to return that money to the bankruptcy trustee. Timing is everything, so they say, in comedy and believe it or not, in bankruptcy. Many who get down on their luck borrow from family and friends in order to survive and, often, to attempt to stay current on their debts. While the goal is laudable, this path [...]