Cash Advances/Gambling

[pokerbob1]

Thank you for taking the time to answer my question(s). I understand the presumption of fraud rule and the days prior to filing etc. but what if you have taken cash advances throughout the last year 20k total and have paid on time for 6+ months and then your laid off from work and now are having a hard time making all payments.
Obviously i will be under for the means test but i have no way of showing my losses as most were in poker.(no limit hold'em, omaha) how can this be explained to the trustee or will it matter since i am under the means test for income?? will i need to gut it out and wait a year? total debt is about 105k including car . 80k is various unsecured credit card debt (20k of that is gambling related) 20k is a personal signature loan.

[TEW]

Thank you for taking the time to answer my question(s). I understand the presumption of fraud rule and the days prior to filing etc. but what if you have taken cash advances throughout the last year 20k total and have paid on time for 6+ months and then your laid off from work and now are having a hard time making all payments.
Obviously i will be under for the means test but i have no way of showing my losses as most were in poker.(no limit hold'em, omaha) how can this be explained to the trustee or will it matter since i am under the means test for income?? will i need to gut it out and wait a year? total debt is about 105k including car . 80k is various unsecured credit card debt (20k of that is gambling related) 20k is a personal signature loan.

presumption of fraud or presumption of abuse?
presumption of abuse is what you file chapter 7 and the UST thinks you should be a chapter 13.
fraud has to be proven did you take the advance with no intention of ever paying it back? doesn't sound like you did.
no one asked me what I spent all the money on if that's any help
you will need to put as much time between the time you took the advances and the time you file.
you may want to wait as long as a year to file.

[pokerbob1]

thank you. I was not exactly sure of the wording. I was just reading all the other posts regarding gambling/cash advances and most were saying you might need to prove losses etc. and they were waiting a year etc.
I appreciate the reply in this matter. I hope i can resume employment and bankruptcy wont be an option. But the need for general contractors has all but dried up since construction is dead.

[TEW]

thank you. I was not exactly sure of the wording. I was just reading all the other posts regarding gambling/cash advances and most were saying you might need to prove losses etc. and they were waiting a year etc.
I appreciate the reply in this matter. I hope i can resume employment and bankruptcy wont be an option. But the need for general contractors has all but dried up since construction is dead.

well good luck