Can you borrow $ from...

[ladyjenn]

a relative to pay for the BK fee, then repay them?
I was thinking that we would borrow the $$ from my in-laws (still need $1500), to get this filed, then pay them back, instead of waiting to save the money to file, which would be months......
I don't see why it would be a problem, but I am new to all this and don't know too much about it and the "rules",
Thanks in advance!
Jenn

[BobMango]

Yes you can, but the debt will be discharged. No reason you still can't pay it back. What you can't do is borrow and then pay back before filing. After discharge, pay anyone you want.

[ladyjenn]

Yes you can, but the debt will be discharged. No reason you still can't pay it back. What you can't do is borrow and then pay back before filing. After discharge, pay anyone you want.

All I see this as is, a check from them to us, deposited in our account, then in turn we write a check to the lawyer, Couldn't it be considered a gift, and we pay back on our own terms?

[BobMango]

You can go that way, but you'd be dishonest with the court. If it's not a gift, don't call it a gift. You could get away with it but it's a slippery slope and it really makes no difference to report it correctly. Why not just tell the truth, you borrowed money to file? This will be listed on your debt schedule and discharged as part of your bankruptcy. You can pay it back whenever you want, as long as it's after you file.

[ladyjenn]

You can go that way, but you'd be dishonest with the court. If it's not a gift, don't call it a gift. You could get away with it but it's a slippery slope and it really makes no difference to report it correctly. Why not just tell the truth, you borrowed money to file? This will be listed on your debt schedule and discharged as part of your bankruptcy. You can pay it back whenever you want, as long as it's after you file.

Would it or could it bring a negative "aspect" to my in-laws at all since they would be the ones lending us the money? If so, I cant and won't do it. I am sure I would have to mention their names....

[GettingGoing]

Would it or could it bring a negative "aspect" to my in-laws at all since they would be the ones lending us the money? If so, I cant and won't do it. I am sure I would have to mention their names....

You would have to list them as a creditor and they would receive notice of the bankruptcy and the debt would be discharged however you can pay any discharged debt that you choose after your case is closed. The only negative aspect to them is the notice of bankruptcy as well as having to wait a few months for the money.

[ladyjenn]

no big deal there, we may even be able to pay them back before the "4 month" process of Bk is over.... thanks!

[Overmihead]

Money order or cash directly from them to your attorney (as in, not going into your bank account at all) might work too, and keep them out of the BK.
I do know someone who went the route of accepting the attorney money as a gift from their parents too. All they had to do was have the parents write a statement that it was a gift and did not ever need to be repaid and have it notarized.

[HMT]

Why not just have your in-laws pay the lawyer and avoid the mess all together?

[ForumReader]

Why not just have your in-laws pay the lawyer and avoid the mess all together?

That was what I was wondering. Easier to do this, have your ILs pay directly to the lawyer.

[ladyjenn]

That was what I was wondering. Easier to do this, have your ILs pay directly to the lawyer.

That is a great idea! Why didn't I think of that? LOL
Thanks!

[ForumReader]

That is a great idea! Why didn't I think of that? LOL
Thanks!

You are welcome Easier this way and you can always pay the lawyer fee back to your ILs after you receive your discharge. Good luck!