About to file chapter 7 please help?

[bknewbie1208]

Hi Everyone,

Thank you all for all your support in helping people like me who know nothing about this process. I have about 90K in unsecured debt and make about $3K a month. I currently work and each paycheck, i make a large withdrawal about $2K month. I gave up on paying my credit card bills for over six months now as all my accounts are in collections. I do still owe my parents from a previous personal loan and I have been paying them (2k a month now for a couple of months) in exchange for room and board and as payback. Am i going to get in trouble for this by filing for bankruptcy? Please help. I am so stressed out these days...any help would be much appreciated.

[shabam]

Hi Everyone,

Thank you all for all your support in helping people like me who know nothing about this process. I have about 90K in unsecured debt and make about $3K a month. I currently work and each paycheck, i make a large withdrawal about $2K month. I gave up on paying my credit card bills for over six months now as all my accounts are in collections. I do still owe my parents from a previous personal loan and I have been paying them (2k a month now for a couple of months) in exchange for room and board and as payback. Am i going to get in trouble for this by filing for bankruptcy? Please help. I am so stressed out these days...any help would be much appreciated.

Trouble no but if you file, they can ask your parents for the money you paid them in the last 12 months back. It might get tricky if you say you are paying them board in the amount of $2k.

With such large withdrawals etc, you may have a lot of explaining to do to the Trustee. I would also start saving at least $2k for a BK lawyer.

[LSUTiger32]

Yeah I think you will have to stop doing that and probably need to stop for 6 months before you file. That is no doubt going to raise some BIG TIME RED FLAGS with the TT.