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Ch 7 & Credit Card debts

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payneta2

Guest
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?:confused:
 


Ladynred

Senior Member
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.
 
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payneta2

Guest
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.
 
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joshuaadvant

Guest
Payments to relatives were relevant up to one year when I filed in IL. Ninety days for others.
 

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