Fantastic! grrrrrrrrrr

[danaf]

Had a consult with the lawyer and she's very conservative.

Her main concern was my latest cash advance and the amount
(20k). I appreciate her conservatism but now what? Do I continue to wait? She even suggested that if I have any of it left, to pay it back to the creditor, that it would look better if they object.

I asked her if she's ever seen any creditors object to which she said no. But still. I guess I should appreciate her honesty and that she isn't telling me something I want to hear but now I'm all nervous.

[nc73]

That is a large amount. I'd pay some of it back.

[SinkingFast]

Routine living expenses charges like gasoline and groceries toward the end,......... Creditors generally don't Object to.

A balance transfer where you use a Convenience Check to pay your car payment or a utility bill,........ Creditors generally don't Object.

When the sum is getting upward of $2K or more,......... Creditors get interested. A $20K cash advance shortly before stopping paying and eventually filing BK,............ The Creditor is definitely gonna take a long hard look at that.

The attny is right to warn you. You should heed her advice.

[PaKettle]

Had a consult with the lawyer and she's very conservative.

Her main concern was my latest cash advance and the amount
(20k). I appreciate her conservatism but now what? Do I continue to wait? She even suggested that if I have any of it left, to pay it back to the creditor, that it would look better if they object.

I asked her if she's ever seen any creditors object to which she said no. But still. I guess I should appreciate her honesty and that she isn't telling me something I want to hear but now I'm all nervous.

Did you make any payments on the loan? How many?
How long ago was the cash advance?
Do you have any of the money in the bank still?
None of my business, but these questions might help the experts here give you feedback.

It would definitely look better if you could make at least one or two payments before filing, if you have made none or only one.

It will definitely be better if you can wait 6 months after the loan was taken, to file. At least 70 days.

Also might depend somewhat on what the money went for.

All these things are factors.

My attorney did tell me that it usually costs them about $3500 to object, so if the loan is more than $7k it begins to look profitable to them to object and try to get you to pay back half on a payment plan. But that's IF it was under, say, 4-6 months ago. Otherwise they are much less likely to object.

[danaf]

I've made payments. None of it is in the bank. Some went toward medical expenses, some went toward higher balance cards. I have none left.

I think that filing post 9 mos after the last transfer albeit it large, will be ok.

She was just being honest. No one can predict if a creditor will object, whether it's post 90 days or 1 year. The fact is though, I've got nothing to hide. Even if the creditors objected and it went to litigation, the judge would see I can't pay it back. And post 70/90 days, they'd have to prove abuse.

I have several large balance transfers. One from last February even that I took out to pay off an MBNA account when the rates went up. That was 24k. I had been paying on that one since 2000. I'd think it would be very tough for them to prove abuse when I've been paying forever on transfers.

I'll just have to take my chances. At some point, the madness has to end. If I retain a lawyer now, it buys me about 6 more months of waiting until I'm threatened with garnishments.