So far I am so very impressed by the knowledge on this forum. The feeling of having a team on your side is very refreshing. Keep up the support...I know I will help when I get underway!
Note: I plan on starting to see attorneys for consultations by the end of this week.
My goal is to file at the end of May because that will help ensure my median income falls below that of what is stated for folks here in CO (in an effort to seek Chapter 7). I was out of work until March, and I am currently an hourly contract employee: money is decent, but my contract is short
While I was unemployed, I was basically living off of CC because my wife and I separated (she moved back to TX) just before I lost my job. Bum luck, eh? What doesn't kill us makes us stronger. Anyway, I did a larger balance transfer ($11k) in an effort to rob Peter to pay Paul (let's call this RPPP). I have also had some minor CC transactions in part of March, but I hadn't planned on filing BK at the time. I am ceasing use of my CC's now, but filing at the optimal time for me (end of May) will place the large transfer outside of 90 days with some minor transactions within the 90 days. I know optimal time frames to avoid potential objections range from 6 months to 1 year. My question is: what is my risk level on potential objections? I don't have one fraudulent bone in my body, and I only started thinking about BK this week. I know the attorneys will give me a good feeling on this issue, but I also want the gut feel of the general audience here. You folks have been through it, so you know what to expect too.
Also - and I don't know if any of this matters - I have not missed a payment on anything, nor been late. That can't continue much longer, but I am trying my very best to stay current until and (hopefully) throughout the BK process. Is this a good or bad thing?
Thanks oodles!
Note: I plan on starting to see attorneys for consultations by the end of this week.
My goal is to file at the end of May because that will help ensure my median income falls below that of what is stated for folks here in CO (in an effort to seek Chapter 7). I was out of work until March, and I am currently an hourly contract employee: money is decent, but my contract is short
While I was unemployed, I was basically living off of CC because my wife and I separated (she moved back to TX) just before I lost my job. Bum luck, eh? What doesn't kill us makes us stronger. Anyway, I did a larger balance transfer ($11k) in an effort to rob Peter to pay Paul (let's call this RPPP). I have also had some minor CC transactions in part of March, but I hadn't planned on filing BK at the time. I am ceasing use of my CC's now, but filing at the optimal time for me (end of May) will place the large transfer outside of 90 days with some minor transactions within the 90 days. I know optimal time frames to avoid potential objections range from 6 months to 1 year. My question is: what is my risk level on potential objections? I don't have one fraudulent bone in my body, and I only started thinking about BK this week. I know the attorneys will give me a good feeling on this issue, but I also want the gut feel of the general audience here. You folks have been through it, so you know what to expect too.
Also - and I don't know if any of this matters - I have not missed a payment on anything, nor been late. That can't continue much longer, but I am trying my very best to stay current until and (hopefully) throughout the BK process. Is this a good or bad thing?
Thanks oodles!
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