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  1. #1

    Default Filing Chapter 7 After Taking Cash Advances

    Hello forum,

    I have two areas of concern, as I consider filing Chapter 7 in the near future, (1) I recently made cash advances totalling $3,500 (1st week of March, 08). After learning this can be considered "fraud" if its within 90 days of filing, I have been able to raise the money to pay this back in full. Would this still be considered fraud if I paid it back?

    (2) Like a lot of filers, my exceessive debt ($100,000) is due to trying to maintain my floundering business (those of you in real estate know what I mean). On my application, my stated income was based on my gross revenues from my business. I dont think this is misrepresentation, but what would the courth think?

    I've never missed a credit card payment in 3 years, and I plan to file sometime in May 2008 to give myself a fresh start. Based on the information I've provided, are there any pitfalls I should look out for?

  2. #2
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: Filing Chapter 7 After Taking Cash Advances

    Take a look at this thread.

    I don't know anything about your income or finances, so I cannot know what a court would think. Discuss your finances with a bankruptcy lawyer.

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