ExpertLaw.com Forums

Bankruptcy Chapter 13 - Cash Advances And Balance Transfers

Printable View

  • 03-12-2008, 09:36 AM
    mjsantos
    Bankruptcy Chapter 13 - Cash Advances And Balance Transfers
    If I want to file for chapter 13, how long should I wait to file after making some cash advances and balance transfers so that it will not be considered fraud? They were all over $ 1,000.

    Thank you.
  • 03-12-2008, 08:00 PM
    mjsantos
    Re: Bankruptcy Chapter 13 - Cash Advances And Balance Transfers
    However, I did not use the money for personal consumption or luxury goods. I only used the money to pay for my wife's high interest credit cards with no interest of not paying. I did want to pay it, but now it has become a burden on my family.
  • 03-13-2008, 09:13 AM
    acip4u
    Re: Bankruptcy Chapter 13 - Cash Advances And Balance Transfers
    I did the same thing i believe you need at least 180 days not sure but i did the same thing and they just asked me how did i get that new cc debt and i told them the truth use to get lower interest rate, the trustee's helper who came to my business location and ask a few more questions one of which was about the cc issue nothing else was said or asked just tell them the truth no matter how short a time that it took place! Good Luck God Bless
  • 03-14-2008, 11:21 AM
    mjsantos
    Re: Bankruptcy Chapter 13 - Cash Advances And Balance Transfers
    ACIP4U,

    How long did u wait to file? Did u make balance transfers as well as cash advances? Were the amounts high? I used the them to trasfer from wife's debt to me. I hope it is not a big deal.
  • 03-14-2008, 11:57 AM
    aaron
    Re: Bankruptcy Chapter 13 - Cash Advances And Balance Transfers
    Selectively paying back debts can create issues as well - your other creditors can claim an improper preference. You should talk this over with your bankruptcy lawyer.
  • 03-18-2008, 06:06 AM
    acip4u
    Re: Bankruptcy Chapter 13 - Cash Advances And Balance Transfers
    Quote:

    Quoting mjsantos
    View Post
    ACIP4U,

    How long did u wait to file? Did u make balance transfers as well as cash advances? Were the amounts high? I used the them to trasfer from wife's debt to me. I hope it is not a big deal.

    I believe i waited around 3 months but not because we planed it that way it's because it was time to file or be harrassed all that much longer check with your lawyer make sure you have a lawyer who specializes in BK. Good Luck God Bless
  • 03-18-2008, 08:27 PM
    mjsantos
    Re: Bankruptcy Chapter 13 - Cash Advances And Balance Transfers
    Thanks ACIP4U.
All times are GMT -7. The time now is 04:18 PM.
Powered by vBulletin® Version 4.2.4
Copyright © 2023 vBulletin Solutions, Inc. All rights reserved.
Copyright © 2004 - 2018 ExpertLaw.com, All Rights Reserved