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avoidable? =C2=A0 =C2=A0 I hate to bug you all, but I'm=
Did the debtor pay more than the actual amount of the judgment?
I would hesitate to open that can of worms given the debtor's collusion with the creditor. However, if the creditor received more than the actual judgment allowed her to receive then the surplus should be recoverable to the estate.
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On Tuesday, October 25, 2016 1:11 PM, "David Tilem DavidTilem@TilemLaw.com [cdcbaa]" wrote:
Yes, it can be avoided David A. Tilem Certified Bankruptcy Specialist Since 1997 Law Offices of David A. Tilem 206 N. Jackson St., #201 Glendale, CA 91206 Tel: 818-507-6000 * Fax: 818-507-6800 Toll Free: 888-BK PRO 4U (888-257-7648) www.TilemLaw.com Affiliated with:
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Subject: [cdcbaa] avoidable? I hate to bug you all, but I'm hoping you'd have an answer as I need to leave for hearings and have a client/debtor hounding me over it: a creditor and the debtor more than 1 year before the petition date (but less than 2) agreed that the debtor would default on a collection case and the creditor would get a judgment for let's say $200,000 and the Debtor then made weekly payments against the debt (which they also privately agreed to settle for a lower amount) for many months after that. The creditor's debt is really a few tens of thousands of dollars less than the amount of the judgment, but the creditor convinced the debtor that letting her have the judgment lien would allow her to protect him from other creditors (of which he has many for similar transactions as the secured judgment creditor). The lien cannot be avoided as a preference because of the timing, but can it be avoided under 548 or the 544? Because of the agreement, it would seem it was actually fraudulent and because the amount owed was less than the amount of the judgment, the debtor received less than equivalent value.
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