Many debtors naturally want to pay back friends and family before filing for bankruptcy. Yet be careful about how you go about this and what you tell and don’t tell your attorney, because down the road the truth will come out. Any money repaid to “insiders”, including relatives, friends or acquaintances, within a year of bankruptcy is recoverable by the trustee. Never try to hide assets for any reason, for this will only make the process longer. Bankruptcy filers must write down everything they’ve sold, transferred or given away over the past two years. Remember nothing can be transferred or sold for less than market value.