Recent Credit Usage - BT's and Convenience checks

[Nowwhatohio]

I was used to doing large balance transfers ($5-8,000+) frequently to take advantage of low rate APR offers. Now and then I would use convenience checks to do the same thing but I'd cash a check into my checking account to have less fees (3%, $75 max per transfer - didn't make sense to do a BT to five different places and get lots of fees).

This was frequent in the last year.

Anyone have experience with credit cards raising issues about activity like this in an adversary proceeding? Nothing has taken place in about 8 months but I'm still worried.

Anyone know about a possible strategy to File Ch. 13 and convert to Ch. 7 if there are no complaints from the creditors?

Thanks in advance-

[keepmine]

Time is your friend. I'd try and wait until a year has passed-only a few more months and then file a 7 if you qualify.
My lawyer told me he had very few adverserial proceeding from creditors once the 6 month mark had passed and had never had one when there was at least a year since cc use.

[CATCHMEIFYOUCAN]

Possible Strategy

I was used to doing large balance transfers ($5-8,000+) frequently to take advantage of low rate APR offers. Now and then I would use convenience checks to do the same thing but I'd cash a check into my checking account to have less fees (3%, $75 max per transfer - didn't make sense to do a BT to five different places and get lots of fees).

This was frequent in the last year.

Anyone have experience with credit cards raising issues about activity like this in an adversary proceeding? Nothing has taken place in about 8 months but I'm still worried.

Anyone know about a possible strategy to File Ch. 13 and convert to Ch. 7 if there are no complaints from the creditors?

Hmmm, I guess time is your strategy. But I had a big transfer from one cc to the next, and than wiped out "the next," the following month:

MARCH 06: Obtained a new cc by transferring $10,000 to pay off another cc
APRIL 06: Wiped out the line of credit on the paid off cc ($6000 in one day)
Miscellaneous charges and cash advances by the end of APRIL 06
JULY 06: Filed BK 13

I had to file BK13 because 2 full time jobs put me over the median, my lawyer said I could quit one job and go for a chapter 7 BUT because of my cash advances, I didn't want to risk objections, adversaries the like. My lawyer said in Ch13 the cc can still object but because you are paying them back most likely they will lose the objection.

The Trustee was the only one that objected to my payment plan, so in Oct 06 I had the judge decide: he said submit another plan or quit one job and convert to a 7.

Oct 06, you know I quit one job! Successfully converted to Ch 7.

Discharged as of January 07, my case isn't officially closed but I hear its just an administration thing. I still can't wait to see CASE CLOSED. I'll feel THAT much free and clear!

BTW: I didn't have any assets (home, property etc - just a new car) so my case wasn't complicated.

Best of Luck, CMIYC

[Nowwhatohio]

If you don't mind my asking why did the trustee object?

I kind of wanted to get around the BT issue by doing a 13 then converting to a 7 - wasn't sure if me and my lawyer could file 13 then convert to 7 ourselves and not give the CC's enough time to raise objections. If we have to rely on the trustee objecting I'm not sure how that could happen.