Another Christmas gift question....what to do about cashing checks....

[tigergem]

Is it *ok* to do that? Go to my mom's bank and cash it, that is.

She banks at Wells Fargo--anyone know if they charge to cash checks for non Wells customers?

Yes, Wells Fargo did charge me $5.00 to cash a check that was drawn on their bank once. A couple of years ago.

[JustFileSuit]

[QUOTE=helpmeout;363285]

Uh, in the paperwork that my attorney sent me, it specifically asks if I transfered ANY assets to a relative in the past year.

Please note: you are not transferring assets. You are substituting one lender for another. the asset, to the extent that you have an ownership or an equity position, remains exactly the same as before.

It also mentioned that any lies on the paperwork is perjury.

Absolutely NOBODY on this forum is even going to remotely suggest that you sign a document that is not lickety-split truthful.

Not to mention that what you suggested above just smells like deliberate fraud to me.

Not at all. It is entirely above-board to have one person take over a lender's position from another lender. For example, you go and re-finance your home with a better loan from a credit union to replace the one from your out-of-State banker with that adjustable rate. You are merely swapping lender's positions.

All that said, if it makes you uncomfortable, then by no means should you consider it. There is zero point in being uncomfortable in anything.

Here is the advantage is swapping out creditors with someone in your family who is going to be kind to you: let us say that you have a recalcitrant commercial lender. You get into trouble. The lenders files for relief from stay _ and is awarded it (routine if there is a deterioration in the lender's position). The lender just takes the auto. Now you have nothing - and no way to get to work, except the public bus. Better to have someone who likes you as your lender.

Nonetheless, general rule: if you do not understand the concept, then don't attempt it, because if you mess it up, then it just makes matters worse. And if you do the lender exchange inside the BK petition, you must file a Motion with the Court and obtain approval -routinely given. Sure is not even remotely anything that smacks of "fraud;" the Court has signed the order.

[LimpDisc]

JustFileSuit -

Absolutely NOBODY on this forum is even going to remotely suggest that you sign a document that is not lickety-split truthful.

I can only laugh at this statement after reading this thread.

What about the UCC-1 that you suggest be filed?

[JustFileSuit]

[QUOTE=LimpDisc;
What about the UCC-1 that you suggest be filed?[/QUOTE]

Strictly legit. I regret that you do not understand the concept.

Again, I emphasize that NOBODY is going to suggest that you ever sign your name, or submit to any Court, any document that is not strictly truthful.

[LimpDisc]

Legal Dictionary

Main Entry: gift
Function: noun
1 : an intentional and gratuitous transfer of real or personal property by a donor with legal capacity who actually or constructively delivers the property to the donee with the intent of giving up dominion over the property and investing it in the donee who accepts it; broadly : a voluntary transfer of property without compensation

[LimpDisc]

I regret that you do not understand the "gift" concept.

[JustFileSuit]

I regret that you do not understand the "gift" concept.

I understand it just fine. Here's the question you did not consider: "donee" to whom?

Was the TV for the kids? If so, remember that they are not before the bankruptcy court.
Was the TV for the wife? It is unclear if she was before the BK court.
Is it joint and several? In which case there is no divisible title.

See, it is not a "simple" as you seek to conclude. I suspect you conclude it is a "gift" TO THE DEBTOR because it meets with your intuitive reaction. Fine; except that that is not a good foundation for legal analysis.

Hey, I am not going to beat this to death. You have it your way; that is fine by me. I merely suggest to you that where intent is not documented, problems erupt. All you have to do is go spend the day down at Probate Court and see the arguments that flare; they are all about "intent" and "donation." And, incidentally, I have never seen a UCC challenged by anybody except a debtor; not a creditor, nor a trustee, in 20 years. they are considered unremarkable instruments by the sophisticated. And your Trustee is going to be sophisticated.

The purpose of the forum is to put ideas forth for consideration by the individual, according to the circumstances unique to each poster. A lot of things fall into the "Hey, I never thought of that" folder. So that is why we post ideas. If you don't like the idea - well, be sure not to use it. OK?

[LimpDisc]

JustFileSuit -

Are you still allowed to participate in a gift exchange?