Do we have to wait a year?

[vietnamvet]

What is the name of your state? florida

we had to sell our house this past june and move to an apartment in another part of the state. our credit card debt was to a point where we had to stop paying them or stop eating. someone told us that we would have to wait a year to file chapter 7 or the courts would want to know what we did with the house proceeds. is that true? most of the proceeds went to moving expences, finding an apartment (2 months security plus the regular rent due to our credit), and living expences for the past 3 months. i am disabled living only on social security and my wife hasn't been able to find work yet, so just about all of the money is gone. we really need to file bk 7 to get these creditors and collection people off of our backs. is there any way to file before the year is up?

thank you for your advise....

 

[bigun]

See a lawyer. Most give free initial consultations. You'll have to disclose the sale but, since you used the proceeds for ordinary living expenses, I doubt the trustee will deny the bk. Disclosure doesn not equal denial.

 

[anadude]

well, based on the info you gave, the money has gone done the drain for necessary living expenses. i don't see a big problem there, you could file now, but of course the trustee may have some questions about where the money went.