Luxury Items

[Help!]

It's good that you're getting those out into the open. I would be surprised if they were an issue. The larger issue is that you include both as creditors. The trustee will ask what the payments were for, and if you state that you borrowed some money from them the trustee will expect to see them listed as creditors. Something to keep in mind... if you are over median, know that there's a chance that your financial life in the last 6 months - 1 year will be reviewed in great detail.

[jays567]

It's good that you're getting those out into the open. I would be surprised if they were an issue. The larger issue is that you include both as creditors. The trustee will ask what the payments were for, and if you state that you borrowed some money from them the trustee will expect to see them listed as creditors. Something to keep in mind... if you are over median, know that there's a chance that your financial life in the last 6 months - 1 year will be reviewed in great detail.

Well the attorney told me to list them as creditors. We are well under the median (by about 20k a year). For the amounts (2,000 each over the last 12 months), do you all see any potential for the trustee to ask for that money back? Like I mentioned, the attorney said that we shouldn't worry but I really want to keep my wife's family protected.

We paid each $170 per month for the last 2 years for credit card purchases (computers, etc.).

[philslyn]

u know let me share you about best buy, i have this client who purchased a laptop a year ago huh. then when we filed bk best buy wants the laptop back or have her pay by reaffirming the debts. however since it was a year ago we are able to get away with it. we just told them its gone. it was given as a gift.
Now hopefully after the 341(a) there wil be no surprises.
With you case i would wait more than 90 days just to play safe.

[Kansas1960]

How likely would it be for a Visa or Mastercard to try to take back an item like Best Buy does? I purhcased a washer and dryer in September on my Visa from Sears since Home Depot did not have in stock what I wanted. If I had purchased from Home Depot would they have been more likely to ask for them back as opposed to Visa?

[Help!]

Well the attorney told me to list them as creditors. We are well under the median (by about 20k a year). For the amounts (2,000 each over the last 12 months), do you all see any potential for the trustee to ask for that money back? Like I mentioned, the attorney said that we shouldn't worry but I really want to keep my wife's family protected.

We paid each $170 per month for the last 2 years for credit card purchases (computers, etc.).

That's good that they're listed as creditors. I think it's very unlikely for the trustee to ask for that money back unless there were individual payments for larger amounts. There is no way to "protect" your wife's family - it's up to the trustee. If you are able to be open with them, you might want to alert them to that possibility but let them know that it's a remote one.

[keepmine]

How likely would it be for a Visa or Mastercard to try to take back an item like Best Buy does? I purhcased a washer and dryer in September on my Visa from Sears since Home Depot did not have in stock what I wanted. If I had purchased from Home Depot would they have been more likely to ask for them back as opposed to Visa?

Zero chance they could get the item purchased returned since it's an extension of unsecured credit.
What they'd have to do is file an AP and contest the discharge of that particular debt.