paying student loan w/ credit card pref payment?

[justme62906]

Just wanting an opinion here, if I used a convenience check to pay 3000 or so on a private student loan, how long do I need to wait to file so this is not seen as a preferential payment or is it even a pref. payment?

Thanks!!!

[debtinohio]

This is essentially a cash-advance, you must wait at least 90 days but the trustee could look at all cash-advances for 6 months, 1 year - etc. You could also face a challenge from the creditor.

It's also fraud if you spend that $3000 knowing you're going to file bankruptcy.

[Faust]

I would not do it.

[Dst1]

Just wanting an opinion here, if I used a convenience check to pay 3000 or so on a private student loan, how long do I need to wait to file so this is not seen as a preferential payment or is it even a pref. payment?

Thanks!!!

90 days at a minimum. As always, the longer you wait the better.

However, I agree with the position that if you know for certain you are going to file BK then it is, technically, fraud. Proving that is a different story.

I think that with 3K if you wait at least 90 days you are unlikely to get much pushback. But this is one of those roll the dice questions that is a little bit like asking if you are going to get sued. No guarantees.