My question involves bankruptcy in the state of: All
FACTS:
1) Creditor, received an $8700 check from Debtor to settle a $12,000 debt on 5/20/15.
2) Debtor filed Ch. 7 bankruptcy on 7/31/15.
3) Discharged on 11/2/15.
4) On 2/24/16, Creditor received a letter from Trustee stating it has a "valid preferential transfer and/or fraudulent transfer claim" for $8700. Trustee offered to settle for $8200.
How will this play out in Court if Creditor rejects the offer? Will the trustee actually file a claim or is this merely a letter writing campaign to drum up some money?
FACTS:
1) Creditor, received an $8700 check from Debtor to settle a $12,000 debt on 5/20/15.
2) Debtor filed Ch. 7 bankruptcy on 7/31/15.
3) Discharged on 11/2/15.
4) On 2/24/16, Creditor received a letter from Trustee stating it has a "valid preferential transfer and/or fraudulent transfer claim" for $8700. Trustee offered to settle for $8200.
How will this play out in Court if Creditor rejects the offer? Will the trustee actually file a claim or is this merely a letter writing campaign to drum up some money?
Bankruptcy Issues: Fraud Transfer and Preferential Transfers
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