About to go boldly with advances <12 mos old.

[ready2puke]

I'm in Ca. and my attorney tells me to wait also..I've been waiting. Aug 2008 last payments on some biggies. No suits yet but the wait is aweful..My life is on hold. I need and wait to file really soon...I think I've waited long enough...
Please keep us posted and good luck. I think you'll be fine

[keptdigging]

I learned here that the standard rule is to let balance transfers and advances "age" to be at least 12 months old before filing in order to stay off of creditors' radar and not get hit with APs for denial of discharge.

But I'm already getting sued and have considered all the possibilities and decided I will take the risk.

- A business CC, $7200 in 3 balance transfers made in 9/2009. Still making minimum payments
- My business line of credit, $3,250 advance taken 9/2009. Made four payments before I stopped. $22K total balance on this one.
- A personal line of credit, $3,600 advance taken 8/2009. $7,200 total balance on this one. Once again, 4 payments after the last advance.
- Another personal iine of credit $1,400 advance taken 5/2009 (and $6,500 taken 3/2009)... this is the total balance. 6 payments were made after the last advance. This one will be 12 months old by the time I file.

[Not listing the institutions here to maintain a little anonymity and not taunt the giants.]

All the advances were deposited into my business checking account... just as I've been doing for years. On the downside, my 2009 business income wound up coming out very low. (Did I have prospects and hopes? Absolutely!)

Anyway, I AM GOING TO FILE in May or June (making the most recent sins 8 or 9 months old) and see what happens. My attorney says that balance transfers are much less of a problem than advances, and that as a non-wage earner, it's tougher for them to prove I should have known I wouldn't be paying. And, of course, that APs aren't cheap for the creditor either. Bottom line, "We'll see."

My personal expectation is that I might have to throw some of them a few dollars to make them go away. But I've got about 200K of unsecured debt, qualify income wise for a Chapter 7, and my house is under water (so I can use California System 2 exemptions) now. I've decided it's time to get on with my life.

I'm sharing this as an opportunity for the scholars here to analyze and predict. I promise to follow up and tell you how it really goes... My decision is made, but I think adding a real story of real AP risk and results might be quite useful... information is power.