FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

Total Unsecured Debt*

*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

This field is hidden when viewing the form

Source

How can we help you?

If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

Agreement*

I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

Select Trustee By Province

Lump Sum Payment

Due to extenuating circumstances, I will be filing for bankruptcy in 2009. Would there be any repercussions if my in-laws paid off my secured loan now? I`m anticipating that a trustee/creditors will be reviewing my records, which may go back 12 months prior to an assignment and I don`t want this to be considered a preferential payment.

Share this post:

X (Twitter) Facebook Pinterest LinkedIn Email

One Response to “Lump Sum Payment”

Barton Goth GCO Bankruptcy Trustees said...

If the money clearly comes from your in laws and it easily traceable you shouldn’t have any issues with preferential payments or conveyances.

However, be careful that this doesn’t increase the equity value of the vehicle past the allowable amount in your provice and put the vehicle in jepoardy.