Should I make this payment?

[Mary123]

I did a cash advance for $16,000.00 3 months ago.
I made 2 minimun payments on it so far.

Now the minimun payment has been raise by almost half and I
will definately not be able to continue paying this card anymore.

I can afford one more payment on this card
(by not paying other cards that I haven't used in about a year) .

Question:

Since I am not going to able to pay this card anymore,
will making that 3rd (and final) payment make any difference?

[poorold]

what did you spend the other 15,000 on?

[kenshirley]

With that kind of cash advance you may have problems when you file.

[Chowder]

....
will making that 3rd (and final) payment make any difference?

No. More importantly, if you can't afford the payment, you can't afford the payment.

I've been told the general rule is you want to wait at least 9 months after the last cash transfer to file for a BK.

That is a larger then average transfer though.

[tinfoilhat]

Interesting reading Find all threads started by Mary123

Whatever you're doing read up on it and think ahead before you do it, which I guess is too late now. You said it was $12,000 before, now it's $16,000.
Keep the story consistant, you'll need to when you hire a lawyer.

To answer your question, you really need to explain why.
If you don't make the last payment no ones going to come and get you.
BUT if you plan on filing bk in the future it might make a difference.
But then again, if you're plan if to file bk someone might want to know where the money went. They WILL ask.

Another thing comes to mind. You say you made two minimum payments on this $16,000 and the third will be the final?
This is not well explained or has BS written all over it.

[music12]

it might make a difference depending on what you spent $16,000 on.

actually, it's more important what it was you spent the money on than whether you make a third payment.

that said, if it were me and i could make the third payment, i would. maybe even add a couple bucks to the min.

[Chowder]

Tin, I think the poster is saying it will be the final payment they will make.

Not that it's the final payment due.

[music12]

Interesting reading Find all threads started by Mary123

Whatever you're doing read up on it and think ahead before you do it, which I guess is too late now. You said it was $12,000 before, now it's $16,000.
Keep the story consistant, you'll need to when you hire a lawyer.

To answer your question, you really need to explain why.
If you don't make the last payment no ones going to come and get you.
BUT if you plan on filing bk in the future it might make a difference.
But then again, if you're plan if to file bk someone might want to know where the money went. They WILL ask.

Another thing comes to mind. You say you made two minimum payments on this $16,000 and the third will be the final?
This is not well explained or has BS written all over it.

hey, TFH, i feel that's a bit of pre-judging going on here! let mary explain first, there must be more to the story.

[kenshirley]

I am not pre judging, just stating that a cash advance just before filing a BK is going to draw some read flags.
I was letting her know.

[tinfoilhat]

hey, TFH, i feel that's a bit of pre-judging going on here! let mary explain first, there must be more to the story.

I'm explaining what it looks like and requesting more info. It shouldn't matter if we prejudge, if this gets explained to a lawyer it's going to look suspicious I think. I think it's important to tell someone what it looks like.

[music12]

kenshirley, my comment on prejudging was meant for tinfoilhat (TFH), not you

and TFH, to a more sensitive person the words "has BS written all over it" would sound harsh and judgmental, but i suppose you didn't mean them that way...

i would presume that mary can explain both the $12,000 balance transfer and the $16,000 cash advance somehow. they are really big so i do hope she can!

[tinfoilhat]

Tin, I think the poster is saying it will be the final payment they will make.

Not that it's the final payment due.

Then I'd say don't pay.

[tinfoilhat]

kenshirley, my comment on prejudging was meant for tinfoilhat (TFH), not you

and TFH, to a more sensitive person the words "has BS written all over it" would sound harsh and judgmental, but i suppose you didn't mean them that way...

i would presume that mary can explain both the $12,000 balance transfer and the $16,000 cash advance somehow. they are really big so i do hope she can!

When she ends up in front of a trustee, sure the trustee isn't going to say sounds like BS, but are they going to think this sounds like BS and be kind and sensitive?

And now that you've quoted what I typed I can't go back and change it anyway.

Again, not trying to be mean, just stating what it looks like to me.

[whipster1]

Yep she took a huge advance, the amount changes from post to post, and then spent 700 bucks on something else, then she/he/it shows up asking if it was a problem...sounds fishy.

[Chowder]

Amount is less an issue than where it went.

Where it went could put off filing for quite a while.