question about credit card debt

[anafan]

I will probably be filing chap 7 BK, I'm aiming for May 2011. I took out 4k (2K split over 2 diff CC's) in 2 cash advances, 9 months ago. I have receipts for everything I bought and bills I paid. I spent it mostly on household goods, that my ex trashed or took (or were just old as dirt) in his grand exit out of my life. (I did buy myself a WII/fit, used..for $150.) Everything else you could call household goods, small appliances, utilities and food. no trips, no jewlery, nor extravagances. I have about $1200 left in cash, but it will be long gone, for utilities and food by May 2011.

I have used one other CC, an average of $150 -$200 per month for groceries, utilities, i.e. living essentials only, until 2 months ago. I am still currently paying the minimum on all of my cc's. I will have stopped using all of my credit cards as of 2 months ago this November 15.

my questions are...if I wait to file until May 2011, and don't use any of my credit cards again, will that pretty much clear me from any chance of an adversarial proceeding? I don't want them trying to get that 4k from me, or the stuff I bought with it. I don't have any where near the amount of stuff my state declares as "exempt" property.

also, when can I stop paying on the credit cards? If I do stop paying on the cc's, will that make increase my chances for an AD proceeding if I stop paying too soon? I don't have the entire amount I will need for attorney's fees and if I am going to file, I need to save every nickel to get to May 2011. like I said, I am currently paying, but it is a very tight squeeze each month.

I will probably get about $700 back on my IRS tax return in 2011. I am about 20k below the means income for my state.

thank you!

I am very nervous about this. I appreciate all the hand holding thru this I can get.

[backtoschool]

If you let a year go by between the cash advances and your filing, you should be able to avoid an AP. (you probably could go a bit less, but since you already have 9 months between you and the AP, a year is still less than May, 2011 which is when you said you were going to file).

Buying household goods is fine. I would make minimum payments for another couple of months.

Given the time that will have elapsed, I think you will be able to avoid an AP

[scorpion35]

I will probably be filing chap 7 BK, I'm aiming for May 2011. I took out 4k (2K split over 2 diff CC's) in 2 cash advances, 9 months ago. I have receipts for everything I bought and bills I paid. I spent it mostly on household goods, that my ex trashed or took (or were just old as dirt) in his grand exit out of my life. (I did buy myself a WII/fit, used..for $150.) Everything else you could call household goods, small appliances, utilities and food. no trips, no jewlery, nor extravagances. I have about $1200 left in cash, but it will be long gone, for utilities and food by May 2011.

I have used one other CC, an average of $150 -$200 per month for groceries, utilities, i.e. living essentials only, until 2 months ago. I am still currently paying the minimum on all of my cc's. I will have stopped using all of my credit cards as of 2 months ago this November 15.

my questions are...if I wait to file until May 2011, and don't use any of my credit cards again, will that pretty much clear me from any chance of an adversarial proceeding? I don't want them trying to get that 4k from me, or the stuff I bought with it. I don't have any where near the amount of stuff my state declares as "exempt" property.

also, when can I stop paying on the credit cards? If I do stop paying on the cc's, will that make increase my chances for an AD proceeding if I stop paying too soon? I don't have the entire amount I will need for attorney's fees and if I am going to file, I need to save every nickel to get to May 2011. like I said, I am currently paying, but it is a very tight squeeze each month.

I will probably get about $700 back on my IRS tax return in 2011. I am about 20k below the means income for my state.

thank you!

I am very nervous about this. I appreciate all the hand holding thru this I can get.

by the time u file u will have about 14 months between the cash advances and your filing date.your will not have any problems with that
i would stop using ALL CREDIT CARDS, keep paying them until december and then stop paying and start saving the attorney fees
u should be fine
the trustee will want your tax returnunless u get it and spend it on things u need like food,prepay utilities etc etc

[ccsjoe]

I agree with B2S and scorpion. You should be in good shape and quite frankly I think an AP after 12 or 13 months, with payments made for 8 or 9 months post charges is highly unlikely. Enjoy your Wii!

[tcreegan]

Hi anafan,

Your cash advances are going to be a year old by May 2011, you paid on it for awhile, the $150 - $200 charges are too small for the cc company to go after, you are probably very safe from an AP. If you know you are going to file, I would stop paying on the cc's immediately. Use the $$ for your attorney!

Tom in Colo

[Flamingo]

To the OP...please keep in mind that fraud in BK is committed when one knows they are going to file BK but keep continuing to charge on the credit cards. It is the Trustee's job to look for this and you will be asked for records that can surpass the usual look-back period of six months for financial information, bank statements, etc. Get yourself a consultation with a BK attorney in your area so you know what you can and cannot do as to filing. Best of luck to you.