Did you pay the credit card or your Mom? This will make a difference in how the trustee goes after the money. If you paid the CC directly, then the trustee will just go after the CC company for the $6000. Of course then the CC company will come after your Mom for the money. Either way you're going to have to tell her so she knows what is coming her way. I agree that it was poor advice on your lawyers part not to have you wait a few more months for the 1 year look-back.
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Filed CH 13 September 17, 2007
Plan Modified July 8, 2009 from $1100/month to $400/month due to change in income, finally discharged in July of 2013! -
Good catch. I missed that fine detail!Originally posted by woeisme View PostChapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
Status: (Auto) Discharged and Closed! 5/10
Visit My BKForum Blog: justbroke's Blog
Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.Comment
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If they go after the credit card companies, would that then be a 90 day preference period?Last edited by Willy13; 04-06-2009, 07:28 AM.Comment
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I am pretty sure that is what Angelina Cat and Hub did - a payment plan. You might PM them and ask.Originally posted by NeedNewStart View PostFiled Ch 7 -- July 9, 2008
341 mtg ---- August 14, 2008
Discharged ---- October 17, 2008
Closed --------- December 11, 2009!Comment
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Ok thanks everyone! The payment was made to her card(Chase) for the full amount. What sucks is that we cashed out our retirement plan because we hated owing anyone money and then now we are paying it again. Oh well....I guess that proves that we were not planning our bk filing by any means.
I am not bringing up that they should be after chase because I feel like Chase might pay them the 6k and go after my mom and then of course we pay it all.
What a nightmare!Comment
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I wonder that too. I asked him once but he told me that probably better to chance it since I quit paying my cards in November. And before I get a repo and bankruptcy on report.Originally posted by StartingOver08 View PostComment
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Sorry for the multiple posts....
Does anyone know if the trustee did decide to go after Chase, how hard would it be to get that money from Chase or do they have to hand it over?Comment
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They'll go after Chase not your mother if the payment was made directly to them. It's not an insider payment. It's a preferential payment.Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -RickComment
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How is it preferential if that long ago?Originally posted by OhioFiler View Post
Its either "insider" (1 year)
or "preferential" (90 days)
or is there something in between?
This really is an interesting question.
HHM?Filed Ch 7 -- July 9, 2008
341 mtg ---- August 14, 2008
Discharged ---- October 17, 2008
Closed --------- December 11, 2009!Comment
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Originally posted by PoorGrammyinBK7 View Post
Good question.
Perhaps the courts don't recognize the debt to Chase as the petitioner's debt and the payment was made simply on the relative's (insider) behalf. That the court looks at the payment as a transfer to the insider by way of the lender.Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -RickComment
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I think it would be better to have chase go after your mom then to have the Government go after her.. Either way, you should let her know so she doesn't get blindsided.Originally posted by okiemom2008 View PostComment
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How was the transaction disclosed on the petition? Was mom listed as an unsecured creditor on Scedule F? The transaction would have been listed on Form 7 Section 2(c), correct?
I have a bad feeling about this. If the payment to your moms credit card card account was for the benefit of your mom, it may be possible for the trustee to still recover the payment from your mom because her credit card was not your debt. You owed that money to your mom, not her credit card. That mom borrowed the money from her credit card to lend to you is irrelevant. It could be viewed the same as if you deposited the $6K into her checking account. The fact that the money was credited to her credit card account and not a checking/savings account may not make a difference.
I hope I'm wrong.
In any case, the Trustee will hopefully be willing to settle and avoid involving your mom.
A payment can be both insider and preferential. The best way I have found to understand this is to look at the actual form on the petition.Comment
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My guess is it has to be viewed as an insider payment. Otherwise people could just start dumping cash assests by paying off the credit card debt of friends and family with only have to wait 90 days.Filed Chapter 7: 06/09/09
341 Meeting: 07/16/09
Discharged: 09/21/09
Case Closed: 09/25/09Comment
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The creditor was mom's creditor, not the filer's. The filer has no signed financial relationship with mom's credit card company.Originally posted by OhioFiler View PostI am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to goComment
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Originally posted by lrprn View Post
But the asset was transferred to the bank. The bank is in possession of the asset. Tough one for me to get my brain around.Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -RickComment
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