here's our situation - new to BK - PLEASE ADVISE

[nogreen]

The 4k would be back CS. I'm not planning to file (maybe not at all?) anytime soon, I don't think. I really don't know. All that money will be spent, or gradually withdrawn from the bank, prior to BK. We owe family, so can we just give it to them ?

KPower - the 20k, is about half & half. Don't mean to sound like "mine, his etc etc". It's all ours, but we only pay on mine (just because I was paying it before we met, & he stopped paying everything of his after his divorce)

I mentioned "settling" with the creditors to him briefly. It's so hard cuz we work opposite shifts & hardly see eachother, as is. But I wonder if this is the road to take.

Thank you everybody ;-)

[nogreen]

I am just making minimums right now, because I don't want to spend our cushion. We have about enough to pay mine off, but we'd be broke & still have his (but more $$ monthly) There is alot of work needed done to our home, so we're using the savings for that, slowly. We also desperately need a getaway. I'd much rather get it transferred with a low rate & just continue to budget it in monthly. IDK

[Amy26]

No, you are not "allowed" to pay family members back any money if you owe them and plan to file any time soon. That's called preferential payments and the money can be taken back.

[nogreen]

Did I mention we are currently paying 2 lawyers ? Thats where the savings come into play. I have peace of mind with that cushion. I wouldn't chance losing my savings. Or my 401k, if that was at risk. Plan B is .......

[freshstartfl]

I didn't see the 401k question answered; if it was and i missed it, sorry for the duplicate post. But, your 401K is exempt. You will not lose that.