Need a Quick Answer about CC

[freefall]

I have several thousand dollars left on my available credit. I'm late on one card and going to be late in a couple of days on the other, yet they keep sending me checks.

Why can't I deposit several thousand bucks in the bank as a cash advance, take it out before filing BK in about four months, and then if they dispute it, just pay it back to them?

Would I be breaking a law and risking jail time?

Thanks.

[AngelinaCatHub]

I have several thousand dollars left on my available credit. I'm late on one card and going to be late in a couple of days on the other, yet they keep sending me checks.

Why can't I deposit several thousand bucks in the bank as a cash advance, take it out before filing BK in about four months, and then if they dispute it, just pay it back to them?

Would I be breaking a law and risking jail time?

Thanks.

Yes you would and yes you could. That is plainly stealing. You are dealing with the Federal Legal System in bankruptcy. To do what you are thinking of and asking about is Fraud. It is wise to play it straight and honest with the bankruptcy system. For the most part, they are kind and are offering you a "new start", but if they suspect fraudulent activity, they can be extremely harsh. 'Hub

[LuciluS]

I have several thousand dollars left on my available credit. I'm late on one card and going to be late in a couple of days on the other, yet they keep sending me checks.

Why can't I deposit several thousand bucks in the bank as a cash advance, take it out before filing BK in about four months, and then if they dispute it, just pay it back to them?

Would I be breaking a law and risking jail time?

Thanks.

Freefall:

I researched your posts and back in May of this year, you had scheduled a meeting early part of this month with An Attorney regarding filing Bankruptcy. This is very important.

You deposit such Cash Advance in your bank account, especially After Discussion with an Attorney - Fraudulent Transaction.

Don't muddy your water where you are not able to drink it.

Luci

[freefall]

Well, it was just a question. I haven't actually done it.

[AngelinaCatHub]

Well, it was just a question. I haven't actually done it.

I am pleased that it was only a question. If you ask this type of question, you are bound to get a blunt answer. No meaning to offend, but the answer is obvious and the chance you would take would steal your peace of mind for a very long time. 'Hub

[LuciluS]

Well, it was just a question. I haven't actually done it.

Fully understand and you are doing right by asking questions. This forum is Excellent. There is a 'Search' feature which maybe of some use to you also.
I've spent days & days reading posts & using the search feature.

Just getting to the point of realizing you need to file BK is stressful. DH and I met with 3 Attorneys' last Sept. and retained one later part of the month. Because of monies I was receiving through Feb. 2009 would have pushed us into a Chapter 13 bankruptcy, we will be filing in 9/09 using Mar. - Aug. 09 income.

Most of our credit cards are in the hands of Collection Agencies and/or Junk Debt Buyers. All of our credit card cos. have full information on our Attorney and are aware we are filing bankruptcy. Just haven't told them the exact month.

Luci

[freefall]

And so, in this situation, one really does risk criminal prosecution? And I suppose one could end up with their case being dismissed, yes?

I will admit we had to purchase some things on our cards in the past, but we've stopped using them. One could say, well if you got fired from your job, then you shouldn't have used your credit card, but I didn't think I was going to have to file BK. I've been out of work before and used them and got back to work, and everything was ok. This time, that just isn't going to happen.

I think we put about 2500 on each of two different cards. It'll be about 90-120 days before we file, and none of the purchases were from jewlery stores or anything like that. Just gas, paid a couple of bills, walmart groceries, that's it. If they object, that's fine, we had to use them. We have about 50,000 in total credit card debt. I'm so glad we don't have any back taxes or school loans or child support. My God, those things are like a life-long disease, aren't they?

[AngelinaCatHub]

And so, in this situation, one really does risk criminal prosecution? And I suppose one could end up with their case being dismissed, yes?

I will admit we had to purchase some things on our cards in the past, but we've stopped using them. One could say, well if you got fired from your job, then you shouldn't have used your credit card, but I didn't think I was going to have to file BK. I've been out of work before and used them and got back to work, and everything was ok. This time, that just isn't going to happen.

I think we put about 2500 on each of two different cards. It'll be about 90-120 days before we file, and none of the purchases were from jewlery stores or anything like that. Just gas, paid a couple of bills, walmart groceries, that's it. If they object, that's fine, we had to use them. We have about 50,000 in total credit card debt. I'm so glad we don't have any back taxes or school loans or child support. My God, those things are like a life-long disease, aren't they?

To date, you have done nothing wrong as it was not premeditated, and no one here plans to go bk. It happens and is a business decision. What you asked was plainly a plan to defraud big time and yes it could be prosicuted, but probably would not. Your bk could be dismissed and if you bk again the automatic stay could be denied to you for your past error. Federal Court is tough. They are fair, but don't cross them.

Good fortune to you and as several others stated, ask your questions before the mistake occurs. Once you do wrong "you cannot unblow the horn". 'Hub

[freefall]

To date, you have done nothing wrong as it was not premeditated, and no one here plans to go bk. It happens and is a business decision. What you asked was plainly a plan to defraud big time and yes it could be prosicuted, but probably would not. Your bk could be dismissed and if you bk again the automatic stay could be denied to you for your past error. Federal Court is tough. They are fair, but don't cross them.

Good fortune to you and as several others stated, ask your questions before the mistake occurs. Once you do wrong "you cannot unblow the horn". 'Hub

Good point.

[LuciluS]

I think we put about 2500 on each of two different cards. It'll be about 90-120 days before we file, and none of the purchases were from jewlery stores or anything like that. Just gas, paid a couple of bills, walmart groceries, that's it. If they object, that's fine, we had to use them. We have about 50,000 in total credit card debt. I'm so glad we don't have any back taxes or school loans or child support. My God, those things are like a life-long disease, aren't they?

Like Hub said, you've done nothing wrong. People have to continue on living.
We've got a lot more than $50,000. Of course, a lot is all the late charges, penalties & interest accrued since we quit paying on them.


DH has a Parent Loan from his son's first year of college. It is $115.20 a month drafted from our account. We have the funds for such each month.
However, I'm like you, those who owe back taxes & child support, I have great empathy for them.

Luci