cash advances/balance transfers

[okiemom2008]

I finally got to talk to the lawyer about the cash advance that was done in June or July 2008. We took 6500 off my moms chase card and it went directly into our account. Then 4 weeks later we paid it off with the retirement money we took out.

We used that 6500 to put on a downpayment on a home in Oklahoma that has 15k equity in it right now.

We have a buyer on the house...but are not sure if we shoud sell it because we will have 15k extra and not sure if that counts as income on the means test or what to do with it.

The lawyer said that what he sees happen alot is that the trustee will say I see here that you paid your mom 6600 in July. And he will let us settle for 3000 to pay him directly and be done with it. He said he cannot guarantee it but sometimes it happens. So basically, just wanted to share it with you all.

[Willy13]

Did your lawyer say anyting about what would happen if you wait at least a year after the payment before you file? Would you still have to settle?

[okiemom2008]

Did your lawyer say anyting about what would happen if you wait at least a year after the payment before you file? Would you still have to settle?

No he did not say anything this time. But at the meeting he just asked if we had done any business with family in the last year. At the time I thought it was done in Jan so I said no and he just went on to the next topic. So I think if you wait a year you are ok. My mom does not know we are filing so I don't want them to be calling her or her to find out just because I don't feel it is any of their business.

[Willy13]

Thanks for your reply