Is a 401k loan payback a preference

Post Reply
Yahoo Bot
Posts: 22904
Joined: Sun Oct 18, 2020 11:38 pm


Yes.

The post was migrated from Yahoo.
Top
Yahoo Bot
Posts: 22904
Joined: Sun Oct 18, 2020 11:38 pm


Ch 7Client wants to use non- exempt cash to pay down his 401k loan. It
sounded like a s547 preference to me, but the case law I am finding says
that the 401K loan is not a loan because you cannot be your own creditor
There is no creditor loan, therefore under s 547 there is no preference. Is
that correct?
Larry Webb
State Bar of California 229344
Central District California
"A Debt Relief Agency"
Larry@webbklaw. com
Law Offices of Larry Webb
484 Mobil Ste 43
Camarillo Ca 93010
P 805.987.1400
F 805.987.2866
C 805.750.2150

The post was migrated from Yahoo.
Top
Post Reply

Return to “Yahoo Old Posts”