I know this was addressed before on a different thread but I'm wondering if anyone had any follow up or other advice.
Last year, starting in June 2008 and ending in October 2008, I took out several large cash advances after taking heavy loses in the stock market. I put that money to work in the market in the attempt to pay off that debt and the debt I had prior, which was almost completely paid off. Needless to say, I lost most of it when the market really tanked starting in the summer of 08. I made payments on those advances for 3 to 7 months and then in January my promo rates expired and I was broke. I've been unemployed for a long time now and am filing a Chapter 7 without a lawyer, since I have virtually no assets and have gone through the legal forms thoroughly.
I'm very worried that it's gonna be the final bad straw for me here and the trustee is going to recommend not allowing the discharge because of where the money went. Mind you, I've had credit card debt for 20 years and all the $110K I owe is not from this event, but it's a large portion of it.
I did meet with a BK lawyer but didn't discuss this issue. He acted as if there would be no problem in the BK seeing as when I borrowed the money and when I am filing the case.....
Help! How do I address this if asked during the meeting of creditors by the trustee and minimize the chance of something adverse happening???
Last year, starting in June 2008 and ending in October 2008, I took out several large cash advances after taking heavy loses in the stock market. I put that money to work in the market in the attempt to pay off that debt and the debt I had prior, which was almost completely paid off. Needless to say, I lost most of it when the market really tanked starting in the summer of 08. I made payments on those advances for 3 to 7 months and then in January my promo rates expired and I was broke. I've been unemployed for a long time now and am filing a Chapter 7 without a lawyer, since I have virtually no assets and have gone through the legal forms thoroughly.
I'm very worried that it's gonna be the final bad straw for me here and the trustee is going to recommend not allowing the discharge because of where the money went. Mind you, I've had credit card debt for 20 years and all the $110K I owe is not from this event, but it's a large portion of it.
I did meet with a BK lawyer but didn't discuss this issue. He acted as if there would be no problem in the BK seeing as when I borrowed the money and when I am filing the case.....
Help! How do I address this if asked during the meeting of creditors by the trustee and minimize the chance of something adverse happening???
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