Chapter 7 and Paypal .. Need your help Folks PLEASE HELP

[bburkus@ameritech.net]

I own a restaurant and I have been put into a position to where I need to File a BK. Ebay has been keeping the family alive for a few years. I am supposed to list all debts to courts. I have a paypal balance of 5k. I asked my attorney if I can reaffirm this debt to keep food on the table. He told me that I need to list them. I am ok paying them over time but I am afraid that if I lose Paypal that my Ebay will come to a halt leaving us in more of a pickle. Are there any experences that I can lean on. Thanks in advance/

[aspkin]

You owe PayPal 5k? Or you have a 5k balance with PayPal?

[Gladiator]

If you have a PayPal installment debt or line of credit, they will eventually see the filing whether you list it or not.

If you have an account with 5K in it, and this is a personal bankruptcy and the account is business.... I wouldn’t mention it. If you are filing as business under your restaurant, keep the debt and business liabilities separate to not commingle them.

A decent attorney or tax accountant should be able to do this for you.