i really don't want to ask, but....

[kristyf]

i'm afraid ya'll won't tell me what i want to hear!!

my husband has wanted to sell cars for a long time, on the side. so we used credit () to buy cars, and ended up being scammed and just buying duds, mostly. and then the last car we had, the money that we 'sold' it with we used for the downpayment on our house.

the last 'sale' was in dec. to my mom. we deposited $4500 into the bank of 12/5. we paid her $2000 on 12/23 and $1000 on 1/2. i'm planning on filing late march. is this going to be a problem? will the trustee care? see these as insider payments? we have also paid all our credit cards up to this point. i'm going to stop after january, spend our refund on necessities, then file in march.

????

thanks

[keepmine]

You bet that's going to be a problem.

[kristyf]

well we will be past the 90 days for the deposit - but not the checks written to her. ??? would i need to wait longer? i know insider payments go back a year - is that likely?

also by the time my 341 comes around, i'll be about 5 months preggo - any sympathy points??

[StartingOver08]

Yes. The lookback period for insider payments is 12 months. Your mom is an insider (relative)

[banca rotta]

i'm afraid ya'll won't tell me what i want to hear!!

my husband has wanted to sell cars for a long time, on the side. so we used credit () to buy cars, and ended up being scammed and just buying duds, mostly. and then the last car we had, the money that we 'sold' it with we used for the downpayment on our house.

the last 'sale' was in dec. to my mom. we deposited $4500 into the bank of 12/5. we paid her $2000 on 12/23 and $1000 on 1/2. i'm planning on filing late march. is this going to be a problem? will the trustee care? see these as insider payments? we have also paid all our credit cards up to this point. i'm going to stop after january, spend our refund on necessities, then file in march.

????

thanks

I'm afraid you are correct! You won't want to hear. You have to wait a year after the pref. payment to your mother was made or your mother will lose the 3000.

[kristyf]

ok, so what do i do?

tell her about filing, tell her the possibility (or is it probability) of the trustee wanting the money back? how does the trustee know? does he request copies of all the checks that are posted on the bank statement?

[StartingOver08]

You sign the petition stating if you have had or not had any insider payments. You supply bank statements. You go under oath at the 341 and state that everything in the petition is true and correct.

Do not take a chance and file before the one year - unless you want your mother to pay the Trustee the money you paid her.

[kristyf]

this is so depressing.

there's no way i can wait a year before filing.

this is not going to be a fun conversation with my mother. i didn't even want to tell her for a long time.

i finally had *hope* after making the decision to file. ARGH.

[StartingOver08]

Tell her so she can prepare her savings before you file. Or, I believe (but not sure about) you can make payments to the Trustee for those funds that are insider funds. One of the others here can better answer that...

[kristyf]

okay, so i'm a detailist.

i was looking at the form, and it says to list payment to CREDITORS who are/were insiders. there's absolutely no paper that says i owe my mom money. would not listing her, since i do not consider her a creditor, be stupid?

[Tbornetun]

Yes, it would be stupid. (Sorry) Anyone you owe money to is a creditor, whether it is a credit card, mortgage, or even your mother. When the trustee sees the $3000 on the bank statement, they WILL want to know what it was for and who it was to. If you don't list it, you will be caught in the lie.

Sorry in advance for being so harsh.

[kristyf]

well, great. i don't even know how much i've paid her in the last year. i can't wait a whole year to file. i guess i could wait until that doesn't show up in the last three months, but if the trustee wants more than that, i risk a dismissal? well now i ran out of hope again.

[StartingOver08]

okay, so i'm a detailist.

i was looking at the form, and it says to list payment to CREDITORS who are/were insiders. there's absolutely no paper that says i owe my mom money. would not listing her, since i do not consider her a creditor, be stupid?

Ok. I don't know you. But I can tell you the Trustee's office is extremely detailed. They brought up a company that I had owned in the early 1990's and asked about it. They are there to find money for the creditors. They are not there to help you. They know where to look because it is their job.

[TEW]

Yes, it would be stupid. (Sorry) Anyone you owe money to is a creditor, whether it is a credit card, mortgage, or even your mother. When the trustee sees the $3000 on the bank statement, they WILL want to know what it was for and who it was to. If you don't list it, you will be caught in the lie.

Sorry in advance for being so harsh.

The trustee may just take it back

[keepmine]

Why can't you wait a year?