Making purchases with credit cards

What is the name of your state? Wisconsin

I made some purchases up to 30 days before....I filed. I see that the credit card companies could reject it?

Has this every happened? I know they can get things up 60 days before filing but I didnt know it was a rule and I planned on keeping this card but then I was told that I need to list it on my papers. I did that. Now I am sweaty bullents because I did not know this was illegal?

Melissa

[Ladynred]

Its not that its illegal, its not, but the creditors could challenge the charges and you might have to pay them for those charges that close to filing. A lot depends on what the amount was and what you bought. If you bought food, the trustee isn't going to argue over that. If you bought something frivolous, that would be suspect.

You have to list ALL debts, whether you want to keep them or not. You would have to reaffirm the card to keep it anyway, but there's no guarantee the creditor will not close the account even if you do reaffirm it !!

The idea behind the time frame before filing is that they figure that if you go get a cash advance on a credit card one day and then file a petition for bankruptcy protection that you're doing something fraudulent.

The rationale is that you KNEW when you took the cash advance that you wouldn't be repaying it, and that won't go over well with the creditor or the trustee.

That's why if you wait at least 90 days, you can say with a straight face that you didn't know back then that you'd be filing a BK.

The idea is to keep folks from going out and buying a bunch of luxury items, filing the next day, keeping the items and not paying for them. That's not the purpose of the laws.

The purpose of a BK is to give you a fresh start, not a mechanism to use to get free goods and cash from someone else.

Hope this makes sense.