Use CC or borrow from parent?

[Over our heads]

I am in a slight perdicerment (so totally spelled wrong).
I had an accident a few weeks ago, and my car should be put back together by mid next week. They had originally said the 2nd week of Feb before it was done. To which I was hoping beyond hope that we would have some tax money back by then. That isn't gonna happen.

So, do I use my one lone still open CC to pay our deductible 500$, and then pay that off w/ tax money, or borrow from my dad and pay him back with tax money. As soon as we are rid of our tax return, we are filing.

It's too late to call our lawyer today, so I'll have to wait until Monday to get her take. What do you all think?

[jribe]

have you already filed for BK? Where you going to run in to trouble if you pay back your parents is the insider payments rule... They could go after you parents for the money. Unless you just let them know you'll pay them back once your case is closed...

If you have the 90 days before you're filing it should be okay to pay with the CC if you have to as well. It's not like it's a luxury expense or anything. Stuff happens!

I am in a slight perdicerment (so totally spelled wrong).
I had an accident a few weeks ago, and my car should be put back together by mid next week. They had originally said the 2nd week of Feb before it was done. To which I was hoping beyond hope that we would have some tax money back by then. That isn't gonna happen.

So, do I use my one lone still open CC to pay our deductible 500$, and then pay that off w/ tax money, or borrow from my dad and pay him back with tax money. As soon as we are rid of our tax return, we are filing.

It's too late to call our lawyer today, so I'll have to wait until Monday to get her take. What do you all think?

[AngelinaCat]

If you can pay your parents back at say $100.00 a month, you will be fine. In either case, $500.00 should not be a problem regarding 'preferential insider payments'. $600+ is what usually triggers a 'look-see'.

As far as the tax return/refund goes: you will have to give your attorney all of your financial records for the past six months or so. Some districts and trustees require a year or more look-back.

Good luck to you.

[catleg]

Pay with the CC. Better to keep dad at arms' length.

[Over our heads]

We should be filing within 2 months time at max. As soon as the refund is back and spent, it is file file file. I will figure something out. I know dad would happily take 100$ a month after we are finished, but owing my parents money makes me sick.