Is a Loan a Cash Advance

[startover05]

I got a personal loan a couple months ago from Citibank is that considered a cash advance?

[hhou812hh]

I got a personal loan a couple months ago from Citibank is that considered a cash advance?

It's pretty much considered a loan. A cash advance is considered a loan too, but with no security.

[HHM]

Why do you ask.

If you took out a loan within 60 days prior to filing bankruptcy, you will have problems with that loan regardless of whether it is considered a cash advance.

[BOA]

I have basically done the same thing

I don't think it matters too much they are very much one in the same (a loan is a loan), there may only be differeinces in the small print.

I took out a major loan from a cc company about 60 days ago as well. I was looking to file in mid October but I am scared to do it. I don't want my case dismissed or worse yet get fraud charges filed against me. I am at this point considering the run and hide strategy. My concern is the law will get worse not better. I would like to think that will all the last minute filings it would give and advantge but the credit companies see their hand strengthening everyday as the new law approaches.

[Genenco]

I also got a loan amount, but after meeting with the lawyer, he said "No, it falls below the threshold" Well, hello! My last LOSER lawyer got the shakes from that loan, this guy knows his beans! (Noodles too!)

[HHM]

Generally, your case won't be dismissed and you won't be charged with fraud for these type of tranactions. Generally, the worst case scenario is you end up having to pay back the creditor the money despite your bankruptcy. The debt gets declared non-dischargeable.