 | 
09-18-2008, 12:54 AM
| | Junior Member | | Join Date: Sep 2008
Posts: 6
| | | Credit card questions
I live in CA
I'd like to know how long I should have had a credit card before including it into the bankruptcy,is there any condition in which I couldn't include a credit card into the bankruptcy ?
(I mean chapter 7)
thanks |
09-18-2008, 08:18 AM
| | Senior Member | | Join Date: May 2001
Posts: 6,455
| | | Luxury charges of over $500 within 90 days of filing and cash advances of $750 within 70 days of filing may not be discharged. |
09-18-2008, 09:52 AM
| | Member | | Join Date: Jan 2008
Posts: 340
| | | I don't know exactly what you mean by "including." However, you must list ALL debts and ALL assets on your petition. |
09-19-2008, 12:52 AM
| | Junior Member | | Join Date: Sep 2008
Posts: 6
| | | luxury charges ? do camera lenses count as luxury? |
09-19-2008, 04:40 AM
| | Senior Member | | Join Date: May 2001
Posts: 6,455
| | | Were they over $500 and made within 90 days of filing?
Most bk lawyers will tell you the more time that passes between credit card usage and filing the better. Very few creditors object anyway and if you have 6 months or beter since your last usage, you likely will have no problems. If yoiu think you may have a problem, let your lawyer know upfront. |
09-19-2008, 10:55 AM
| | Member | | Join Date: Dec 2006 Location: Kentucky
Posts: 224
| | Quote:
Originally Posted by anorphirith  luxury charges ? do camera lenses count as luxury? | Unless they are necessary for your employment, the likely answer is yes. But it may hinge upon the amount paid for them. |
09-19-2008, 12:48 PM
| | Junior Member | | Join Date: Sep 2008
Posts: 6
| | | ok thanks guys, what about if I obtained a credit card mentioning false income information ? can creditors object because of that ? |
09-19-2008, 12:59 PM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 75,781
| | Quote:
Originally Posted by anorphirith luxury charges ? do camera lenses count as luxury? | **A: are you a professional photographer? |
09-19-2008, 03:29 PM
| | Senior Member | | Join Date: May 2001
Posts: 6,455
| | Quote:
Originally Posted by anorphirith ok thanks guys, what about if I obtained a credit card mentioning false income information ? can creditors object because of that ? | Yep, if they care to push it-that's a biggie. |
09-25-2008, 02:37 AM
| | Junior Member | | Join Date: Sep 2008
Posts: 6
| | | yeah I'm a professional photographer, I'm planning to buy lenses then do BK after like 5 or 6 month unless I can make enough money I want to buy around 15K of lenses, I'm already around 25K in dept ... |
09-25-2008, 04:21 PM
| | Senior Member | | Join Date: May 2001
Posts: 6,455
| | | The moment bk is a real possibility, is the moment you need to stop using those cards. |
09-26-2008, 12:13 AM
| | Junior Member | | Join Date: Sep 2008
Posts: 6
| | | well the 25K in dept are not CC dept AT ALL !! I was into a collision, (not drunk and no physical damages) |
09-26-2008, 07:54 AM
| | Senior Member | | Join Date: May 2001
Posts: 6,455
| | | The source of your current debt is immaterial.
The hole is deep enough. Time to stop digging. If you want to file bk, do so but don't complicate the issue with a large cc charge that will draw some attention. | |
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | | | | Thread Tools | | | | Display Modes | Rate This Thread |  Linear Mode | | 
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts
HTML code is Off | | | |
All times are GMT -5. The time now is 08:50 AM.
