Cash Advance Question

[Freddy03]

We have been using Amscot for cash advances about every 2 weeks. We always pay them and say we aren't going to do it again but something comes up and have to do it again. Now that I'm not paying cc anymore we don't need to do it but I have 2 outstanding now (total $800). Will this cause a problem with filing BK?

[frogger]

Probably not if you have a pattern of doing them. If you had done the cash advances in anticipation of filing, then you would have a problem.

[BKParalegal]

You want at least 90 days to pass since the last time you did a cash advance before filing to avoid the presumption of abuse.

Good Luck

[Freddy03]

You want at least 90 days to pass since the last time you did a cash advance before filing to avoid the presumption of abuse.

Good Luck

Really??? Then I wouldn't be able to file until Jan?? What if they are paid for already. They aren't outstanding.

Oh no this could really hurt me.

[ccsjoe]

Freddy, if they are paid for already you should be ok. You have a documented pattern of this behavior. The only reason you would need to wait at least 90 days would be if the amounts were outstanding and to be included in the filing.

[drowning123]

Are we talking about payday loans? Cuz I have some that I included in my BK that I'm sure were not 90 days old on the date of filing.

[Freddy03]

That's what I thought too because they aren't credit card advances. Uh everyday I give myself a new headache over this.

Now a new question -

I just read that middle district FL trustee's are tough. I'm going to start getting credit card statements together today but most of my accounts are charged off/sold/or pending lawsuites. We have not charged anything in almost 2 years. I can't even get a customer service rep to talk to me b/c the accounts are charged off. How am I suppose to get the statements?

Thanks!

[Freddy03]

Are we talking about payday loans? Cuz I have some that I included in my BK that I'm sure were not 90 days old on the date of filing.

Yes

[drowning123]

I included everything, and I'm represented by a lawyer. He didn't mention any of that 90-day thing to me.

[ccsjoe]

drowning & freddy: The normal parameter is that you are not supposed to use credit within 90 days prior to filing as it is presumed that within that timeframe you knew you would not be repaying it therefore it was fraudluent and considered abuse.

However, the reality does depend upon trustees. In my own case, I used my credit cards for living expenses up to 25 days prior to filing. None of the expenses were "luxury" or over $90. Everything was gas, food, etc. My attorney and several others who've posted here said that this was likely ok, because there was a pattern, it was not luxury or high dollar amounts, and it was living expenses.

So, not knowing the trustees in your respective districts, I would think a certain amount of logic would come into the decision if you have a documented history of this behavior and you can prove that it was used for living expenses.

Just my opinion though, I hear FL trustees are a pickle. Sorry Freddy. But I think you'll be fine!!

[drowning123]

That's what I thought too because they aren't credit card advances. Uh everyday I give myself a new headache over this.

Now a new question -

I just read that middle district FL trustee's are tough. I'm going to start getting credit card statements together today but most of my accounts are charged off/sold/or pending lawsuites. We have not charged anything in almost 2 years. I can't even get a customer service rep to talk to me b/c the accounts are charged off. How am I suppose to get the statements?

Thanks!

Attorneys only need that information to get proper addresses. I had the same problem, so I printed a copy of my free credit report, which had all the addresses. I'm sure you've been getting correspondence from the collection agencies as well. You can use those, too.

[Freddy03]

Attorneys only need that information to get proper addresses. I had the same problem, so I printed a copy of my free credit report, which had all the addresses. I'm sure you've been getting correspondence from the collection agencies as well. You can use those, too.

Yeah I have all address and phone numbers of who owns the accounts now and which ones are still with the org creditor. I just don't have statements. I'm praying this goes smoothly for us. Oct 8th can't come fast enough.

[drowning123]

I agree, Joe. It really depends on the trustee.

[UghUghUgh]

Relax Freddy! You have everything you need. I am sure you are not the first person to go through their court without statements. As long as you can tell them that you did everything in your power to try and get them then the credit report should be all that is needed.

The wait is a killer, just don't let it kill you!! (I tell myself this every day.)

Just out of curiosity....What is the word on the street about the PA UST's? Friendly-like?

[Freddy03]

Ok I talked to my soon to be BK attorney (will be BK attorney on Monday ) and he said that payday loans/cash advances and the overdrawn bank account would be included in the BK. It would be up to the trustee to discharge it but he said if it came down to it I could pay it back in payments - the BK would discharged but still open.

Does that sound right? Again it is not uncommon for me to have an overdrawn account and payday loans.