one last cash advance ?...promise!!!!

[helpsoneeded]

k

[HHM]

Borrowed money is not income.

[253BK]

They wont consider it income BUT did you take it out of a credit card???

[diviaruba]

Man, you really have a problem that bankruptcy is not going to fix. Get help with the gambling thing before you come here looking for validation on all of the ways to get around the scrutiny of your cash advances.

[helpsoneeded]

yes, it was taken out of credit cards to pay casino markers. I do have my bank statements to prove where the money went...

[aa06a47]

Two items of concern here...1) Cash advances of any large amount will flag the credit card companies and will probably result in an effort to disallow the debt from being included in the bankruptcy. The longer the amount of time you put between credit card advances and filing the better. 2) You will have to disclose any creditors paid (over 600 I believe) within the 90 days preceeding filing. This will probably prompt a preferential treatment and the trustee will go afer the casino to get money back.

Advice, don't pay the casino markers back. Include them in the bankruptcy. Being a problem gambler myself, your probably thinking if I pay them back and don't bankrupt on them, when I get out of this chapter 13, they will give me more money to gamble...and I'll pay be able to pay it back next time....Casino's make millions of dollars a day....and winners don't buy them fancy casino's. Don't confuse them as a friend. I'm not judging, just speaking from past experience.

[Cali]

Man, you really have a problem that bankruptcy is not going to fix. Get help with the gambling thing before you come here looking for validation on all of the ways to get around the scrutiny of your cash advances.

We are not here to judge people on the reason why they are on this board.

[2ndtimefiler]

Along the same question line regarding cash advances....I took an unsecured personal loan for 10,000 dollars last August, with the intention of consolidating debt and ended up with nothing left to consolidate. I am so scared of being looed at as fraud...I have paid monthy on it at 24% interest, and just got a letter since i am over the credit limit, which the interest payments have never gotten it lower than the limit, my rate is now up to 31% interest. I will never get this debt paid off. What kind of trouble will this cause for that large amount, and less than a year, however more than 90 days...I am in Pennsylvania...anyone from PA with advice (eastern)...I am holding on and keep paying my monthy total to buy some time before filing. I have to file 13, this is my 2nd BK in 5yrs (don't need lectures..I know I screwed up...)...plus i have assests to protect, my total debt is 22000 in unsecured(which may not seem like a lot, but on my income, it is...)...i am holding out because of this 10,000 dollars being with in a year, it is with Beneficial and not sure how they will react to a BK...

[MajorMike]

Beneficial will be fine, trust me.
With 22K in debt, you'll probably be at 100 percent payback anyway and they'll get their money. That is only $350 or so a month.

[buchanj]

Beneficial might be the worst loan shark racket ever created. I got into one of their loans last year and regretted that decision till I put them into the chapter 13 plan. Mind you it is my fault for signing the contract and they do spell it out for you but holding a check for 8000 dollars makes you lose your common sense.
They put the payments over 5 years and when your done paying you would have paid them double.
Beneficial will not bat an eye when you file bk--they expect it. Dont feel no empathy for them at all. I believe you will be ok, its not like you got the loan last month.
As for the markers, consult your attouneys. Hang in there!

[keepmine]

We are not here to judge people on the reason why they are on this board.

She's not being judgmental. She's just stating a fact. Bk is not going to help as long as he's gambling. Look back at some of his old posts. 6 months ago he was asking questions about gambling and credit cards.

[MajorMike]

Helpsoneeded,
You should BAN yourself from that casino you go to as well...and do it now!! This is NOT being judgemental. You can exclude yourself and they will not let you play there. You need to do this or you're never going to be able to file and it'll ge worse and worse.
You can ban yourself online and in brick and mortar.
I've read all your posts, and you've definitely got a problem there.
How did you finally convince your husband to file with you?
You say in an early post that you can't ever afford 1800 a month payment but now you can?
Why did you open another credit card, take a cash advance and ask us for help after you did it?
I'm not judging, just trying to see what is going on and if we're really helping here or not.

[MajorMike]

She's not being judgmental. She's just stating a fact. Bk is not going to help as long as he's gambling. Look back at some of his old posts. 6 months ago he was asking questions about gambling and credit cards.

Not a "HE" but a "SHE"

[helpsoneeded]

Hi, I really never wanted to file, so i thought i could win my way out of debt. Thats why i kept trying and taking money out. I cant afford my payments on my c.c. I am always doing balance transfers to keep up. My husband finally realized that we just dont have a choice,but to file, and we both realized that we cant win it back. I wont be going back to the casino because i am no longer on a mission and i do accept what i did and i can only make it better now. The reason for all the questions is because the whole thing seems so scary , I do worry about the advances, although i can prove where all the money went. Its the worst feeling in the world knowing what i did. I wish i could say i bought alot of nice things and went on trips, but i cant. Sorry everyone for all the post. I will stay quiet now and just read all the other posts. But i have to say, i did learn alot here and thanks everyone. Best wishes!!!!

[epiphany]

Hi, I really never wanted to file, so i thought i could win my way out of debt. Thats why i kept trying and taking money out. I cant afford my payments on my c.c. I am always doing balance transfers to keep up. My husband finally realized that we just dont have a choice,but to file, and we both realized that we cant win it back. I wont be going back to the casino because i am no longer on a mission and i do accept what i did and i can only make it better now. The reason for all the questions is because the whole thing seems so scary , I do worry about the advances, although i can prove where all the money went. Its the worst feeling in the world knowing what i did. I wish i could say i bought alot of nice things and went on trips, but i cant. Sorry everyone for all the post. I will stay quiet now and just read all the other posts. But i have to say, i did learn alot here and thanks everyone. Best wishes!!!!

You don't need to apologize for posting. Everyone learns from everyone else's posts.

I did just look at some of your other posts. Are you sure you are not in denial of the gambling problem? You actually sound like you feel guilty for posting in this very thread...why would that be? Where there is no problem, there is no guilt. You were worried about the advances five months ago and asking about gamblers anonymous. What has changed between then and now? I am not judging you, just telling you how it looks.

I hope for your sake that you do not have a gambling problem but that if you do, you seek help for it immediately. Filing Bankruptcy won't help you in the long run if you don't deal with the bigger problem first.

Good luck to you and don't hesitate to post all you want.

EP