Jump to content

non dischargable debt?


Recommended Posts

I'm sorry to keep asking so many questions, but you have all been so helpful. In our state, you can't have made a cash advance on a cc within 70 days. Prior to us realizing we had to file, I did a !,000 advance thinking that would get us through one more month and hopefully our house would sell (been on market 1 year) What happens if the trustee will not discharge that debt in CH 7. Do we have to pay the $1,000 or the whole debt. and do we have to pay at the accelerated rate the CC states, or will the trustee set something up that we can afford? Thanks so much

Link to comment
Share on other sites

What happens if the trustee will not discharge that debt in CH 7. Do we have to pay the $1,000 or the whole debt. and do we have to pay at the accelerated rate the CC states, or will the trustee set something up that we can afford?

Actually, the Trustee doesn't make any decision in this sort of thing. IF the creditor challenges the dischargeability of that cash advance, then they are going to have to file a Motion for an adversary proceeding. At the hearing, you would have to show where the money went and that it was NOT used for luxury or frivolous purchases AND that you didn't take out the advance with the intention of never paying it back. It would then be up to the JUDGE to decide whether or not the advance, all or in part, would be discharged. If it meant paying the creditor, arrangements for payment would be worked out between them and you and your lawyer.

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.