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Is a 401k loan payback a preference
Posted: Wed Nov 24, 2010 3:49 pm
by Yahoo Bot
Yes.
The post was migrated from Yahoo.
Is a 401k loan payback a preference
Posted: Wed Nov 24, 2010 3:44 pm
by Yahoo Bot
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.