Taking cash advances on your own bank account

[jpntx]

Hello,

We are getting ready to file in the next couple of months. Will it delay our filing if we take a cash advance on one bank account and transfer to another (both ours).

I'm short on this month's mortgage pmt, also have utilities that need to be paid. It would only be $400.00 dllrs.

Income has been reduce by 1/2 is getting harder and harder to make ends meet, can't wait for this to be over.

Any advice?
Thanks

[StartingOver08]

What is a cash advance on your own account?

[Flamingo]

Do you mean taking a cash advance from a credit card held by another bank and depositing it into your checking account at your bank? If so, that is robbing Peter to pay Paul and can be viewed as a fraudulent transaction at this point if you are planning to file shortly since you are doing it with no intention of paying it back. Have you retained your attorney? If so, before you do anything like that, check with him/her.

[jpntx]

sorry for not explaining myself better.

I meant a direct deposit advance, I'm able to have acces up to 400.00 dllrs from my bank account with a 39 dllr. charge. This is the account where my check gets deposit every 2 weeks.

The money would be deposited to a different checking account,The account from where I wrote a check out to pay mortgage. I expected husband's check to be more, it wasn't now I don't have enough in account to cover mortgage payment.

We stop using credit cards 5 months ago, lawyer paid for. waiting on the 6 month average to even out.

Thanks

[jribe]

sorry for not explaining myself better.

I meant a direct deposit advance, I'm able to have acces up to 400.00 dllrs from my bank account with a 39 dllr. charge. This is the account where my check gets deposit every 2 weeks.

The money would be deposited to a different checking account,The account from where I wrote a check out to pay mortgage. I expected husband's check to be more, it wasn't now I don't have enough in account to cover mortgage payment.

We stop using credit cards 5 months ago, lawyer paid for. waiting on the 6 month average to even out.

Thanks

Direct deposit advances are never a good idea unless you have that amount (ie $400) extra next month. You'll just dig yourself into a hole. It's not a credit account- so you can do it if you need to. Obviously they will just take the $400 plus their fee from your next Direct Deposit. So using the DD is okay. However, are you planning on closing the account so you don't have to pay it back? That would be bad, if that was something being asked...

[TJR70]

I have the similar issue when told my lawyer about it he said close it or walk away from it and open a new account. It will be discharged..

[Dst1]

That's an interesting question. Just because it's called a DD advance it still is in essence a loan, a cash advance. After all there is nothing stopping you from taking the "advance" and then having your DD deposited elsewhere the next month with no recourse by the lender.

So I can't agree with the statement that "it's not a credit account." It is.

However, if its only $400 I don't think it enough to fall within the presumption of fraud.

[jpntx]

I know is digging myself in a deeper hole, but sometimes there's just not many options.

I've had that account for a while, is the one I plan to keep after the bk.

Thanks for your responses