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odds of adversary?

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    odds of adversary?

    hi everyone. my name is Samantha. I am concerned about something here is my situation.

    I had taken out a 5000 loan a year and a half ago and also a 10000 loan about 4 months ago. I've been paying them both with no problem. I used the second loan for surgery copays and my deductible, basic living expenses, clothes etc. I thought it would help me get ahead but it didnt.

    I also have 2 credit cards I would need includes in the bankruptcy. my concern is the second loan I came across something about adversary proceedings I have a few questions

    will they ask me details about what I used the loan for?

    what are the chances of the trustee or the creditor filing an adversary based on my info?

    thanks for any help. I haven't had a consultation with an attorney yet.

    #2
    Your best bet is time, wait awhile before filing, wait until you find a great attorney and have the $$$ to retain him/her. Adversary Proceedings are rare, but it's doesn't help if you took out a large loan and 2 months later filed for bankruptcy. Or let's say you took a loan out and purchased gold watches and big screen tv's, then filed a month later. That is Fraud plain and simple, they can come after you for that if it looks suspicious and OBVIOUS. They still have to prove you did in fact defraud them, but it looks bad if it is in such a small time frame.

    I waited until I got served papers with a lawsuit, and filed a few days later, that was like 9 months after I defaulted on debt and about 6 months after two vehicles were repossessed. It put a fire under my butt to get it done with, and here I am 6 months later making my Chapter 13 payments and it has been life saver for me to file, and to start my new life.

    Godspeed and remember, be 100% honest with your Attorney, I mean that and I can't stress it enough. Don't hide any details or property.

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