Where is this "6 month" rule about cc use coming from?

[rpg1977]

Everything I have read seems to indicate that you should not file for BK if you used credit cards for balance transfers and cash advances within 90 days of filing. How come I see some on this forum saying it is 6 months? I haven't seen anything indicating that is the rule. Can anyone provide links where this is documented?

I have not bought any luxury items, but have simply been taking cash advances from one credit card to pay bills. The last one was in May. This is why I am still current and my credit score is good. (though, not for long, because this will be the first month I will not pay). I was planning on filing this month, but read the "90 day" rule and accepted the fact that I may not be able to do it until the end of summer. Now I keep reading about "6 months" and am getting worried. I dont know if I can handle the phone calls and possibly being sued for not paying credit cards for 6 months without bk protection.

Thanks!

[AngelinaCat]

It's because 6 months is the standard 'look-back' period, where the trustee looks to see if there is anything that *could*possibly look like a fraudulent action--even when it is not, or a preferential insider payment. If the trustee does suspect something, then they can look back for a year or more.

You are not apt to be sued within just six months. It usually takes longer, and each step along the way comes with built in time periods that have to go by before the next step can proceed.

I hope this helps.

[CH33 Paralegal]

6 is better than 3. 9 is better than 6.

If you want to have the creditor object and you be on the hook to pay it, go ahead and file. There's no law preventing you from filing now, but your creditor has the right to object to any recently acquired debt being discharged.