Home     Law Advice     Insurance Advice     Community    
Consumer Bankruptcy : Chapter 7, Chapter 13, Protection From Claims of Creditors
Go Back   FreeAdvice Legal Forum > BANKRUPTCY AND CONSUMER CREDIT > Consumer Bankruptcy
Reload this Page Ch 7 & Credit Card debts

Powered by Attorney Pages


  Find An Attorney In Your Area    
 

Reply
 
LinkBack Thread Tools Rate Thread Display Modes
  #1  
Old 08-13-2002, 05:21 PM
payneta2
Guest
  
Posts: n/a

Ch 7 & Credit Card debts

What is the name of your state? TX

My husband and I are considering bankruptcy due to my loss of job recently. I am worried though, about 2 months ago my mother was unemployed and asked me to repay her for a loan she had made to me 3 years ago. Well, I did not have the money so I took out a cash advance to repay her. Now I am afraid that if I do have to file bankruptcy that they will think I have committed fraud. What are my options?
  #2  
Old 08-13-2002, 05:38 PM
Senior Member
  
Join Date: Feb 2002
Location: Nashville,TN
Posts: 15,706
How soon are you considering filing ?? Its true, they look at cash advances and payments to 'insiders' (family), but if you can wait 3-4 months, then the period they look at for 'preferential' payments to insiders will have gone by and it won't matter much. A lot depends on the amount of the advance too.. was it a few hundred or thousands????

You can have the debt to your mother discharged.. just like all the rest.
  #3  
Old 08-13-2002, 06:01 PM
payneta2
Guest
  
Posts: n/a
It was $2000. I think we can wait a little while. I still owe her more but that was all I could give to her at the time. Even if I wait, would it be best to get some kind of letter from her indicating the payment was made to her?
Thanks for the advice.
  #4  
Old 08-13-2002, 06:32 PM
joshuaadvant
Guest
  
Posts: n/a
Payments to relatives were relevant up to one year when I filed in IL. Ninety days for others.
Reply

« Previous Thread | Next Thread »


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes Rate This Thread
Linear Mode Linear Mode
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Forum Jump

All times are GMT -5. The time now is 11:53 PM.

Contact Us - FreeAdvice - Archive - Privacy Statement - Top

IMPORTANT NOTICE
THE VIEWS EXPRESSED ON THIS PAGE WERE NOT REVIEWED BY THE EDITORIAL STAFF OR ATTORNEYS AT FREEADVICE.COM. Thousands of professionally prepared and reviewed questions and answers in 130 legal categories are to be found at the Question and Answer pages at FreeAdvice.com.
FreeAdvice Forums are intended to enable consumers to benefit from the experience of other consumers who have faced similar legal issues. FreeAdvice does NOT vouch for or warrant the accuracy, completeness or usefulness of any posting or the qualifications of any person responding. Use of the Forums is subject to our Terms and Conditions which prohibit advertisements, solicitations or other commercial messages, or false, defamatory, abusive, vulgar, or harassing messages, and subject violators to a fee for each improper posting. All postings reflect the views of the author but become the property of FreeAdvice. Information on FreeAdvice or a Forum should not be relied upon and is not a substitute for advice from an attorney licensed in your jurisdiction who you have retained to represent you. To locate an attorney visit AttorneyPages.com. Copyright since 1995 by Advice Company. All Rights Reserved.