Question about Purchase

[helpmenow]

My spouse and I have just retained our attorney and are looking to file a ch 7 on March 1st. due to seasonal income.

I am in a self employed in a service based industry. My computer has been on the fritz. I'm looking at replacing it with money from of our dba(business account) this month along with some updated software. The total cost is about 2500. We've stopped making cc payments at the end of last month. Will this create a problem?

Will it also reduce my december income by that same amount because it's a business expense.

I have several things I've needed for the business but have been to broke maintaining good pmt history to the cc companies. December is 1 of 4 good months in the business. I'd like to purchase a few of the other small things as well as busines expenses without raising suspicion

[Flamingo]

Since you have already retained your attorney, please check with him/her before you make any purchases.

[mmenz22779]

I agree with flamingo, you already retained your lawyer so technically you know you are insolvent, but a need is a need.

The worst that would happen is you would need to still pay on that item. If it comes up in court your laywer can explain it. Otherwise just see what happens. If you really need it then i would get it as long as you are prepared to pay for it.

It would have been better to purchase it befoe you retained an lawyer but live and learn.
Remember if you wait too long your 90 day rule will hit and it will be objected and thought of as fraud.

good luck.

[helpmenow]

I agree with flamingo, you already retained your lawyer so technically you know you are insolvent, but a need is a need.

The worst that would happen is you would need to still pay on that item. If it comes up in court your laywer can explain it. Otherwise just see what happens. If you really need it then i would get it as long as you are prepared to pay for it.

It would have been better to purchase it befoe you retained an lawyer but live and learn.
Remember if you wait too long your 90 day rule will hit and it will be objected and thought of as fraud.

good luck.

I was not asking about charging it. I will be paying out of my business checking account. December is a high season for us, we usually replace worn out stuff that month. I was hoping that it would also help us to show less net income for that month.

[Flamingo]

I was not asking about charging it. I will be paying out of my business checking account. December is a high season for us, we usually replace worn out stuff that month. I was hoping that it would also help us to show less net income for that month.

When you retained your attorney, you provided him with your financial information at that point in time; if you make any changes to it, any purchases of anything that you mention you would like to do, you are changing the information you provided to him which could create one heck of a problem for you...as I stated in my first response to you, before you take any steps as to purchasing anything since you have already retained an attorney, contact him/her first before you proceed. While your intentions are good as to what you want to do, your decisions could cause you a lot of problems. You are paying for legal representation for your particular matter - always work through your attorney.