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Money borrowed from & paid back to relatives

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    Money borrowed from & paid back to relatives

    We borrowed money from my mom and my inlaws (not much, a couple hundred here and there) when we were in pinch last year, and paid it back on the next paycheck. Is this going to come up or be a problem with our bankruptcy? Our 341 is tomorrow and our confirmation is the next day. If they ask us if we borrowed money or gave money to relatives in the last year, do we say yes or no? We borrowed no more than a couple hundred at a time, and paid it back either in installments of $100 or so, or lum sum ($300 at most).

    ADVICE? PLEASE?!
    Filed: 11/10; 341: 1/11; Confirmed: 2/11
    49 payments down, 11 to go...

    #2
    You mentioned confirmation, so I am assuming we are talking about a chapter 13. If so, not really an issue. So long as your total of monthly payments in your chapter 13 is more than you paid to your relatives, you will be fine. In the big picture, a non-issue.

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      #3
      Originally posted by HHM View Post
      You mentioned confirmation, so I am assuming we are talking about a chapter 13. If so, not really an issue. So long as your total of monthly payments in your chapter 13 is more than you paid to your relatives, you will be fine. In the big picture, a non-issue.
      Sorry, yes. Chapter 13. It was a simple matter of "Crap, Christmas is coming and we had to buy two new tires and my daughter's orthodontist bill is due..." So they loaned us $200 here, or $300 or $100 there... You know how it goes. And we paid them back with the next paycheck to come in. I made a $100 payment to my mom and one to my grandma on Christmas Eve, to cover some gifts they helped me buy, and now we're done.

      Thanks, you've made me feel a lot better!!

      (I love this place!)
      Filed: 11/10; 341: 1/11; Confirmed: 2/11
      49 payments down, 11 to go...

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