When is it ok to pick up new debt?

[jp2861]

I should be filing the first week of November. I would like to get some dental work done but don't want to do anything before I file. Should I wait until after the 341 or wait until the entire process is finished and closed?

[HHM]

You need to wait until after DISCHARGE to pick up new debt. Strictly speaking, you are not allowed to incur new debt anytime after filing and before discharge.

[Boscoe]

Why not do it BEFORE you file? It certainly is a necessary expense............

[6ftladycop]

I too need dental work and when I realized that I had to file, I put it off until the process was over. I noticed that you received conflicting answers here on the forum. Most of the time all here give out great advice, but every now and then I notice that we do not all agree on answers that are given out. My 2 cents would be to think very hard about loading up on debt before filing as many here have said that doing so could place you in a Presumption of Abuse situation which simply means that you knew you were going to file, yet you added some more debt to your situation and believe me, the courts know all the dates of just about everything you do before and after.

Now as far as after the discharge goes, there has been mentioned here several times that doing so is a big fat no no, and I agree because (1) you do not want to get right back in the situation you just go out of because you can not file again for a number of years, and (2)you can not avoid credit and debt post bankruptcy, but you definitely have to be careful about what amounts you get in debt for and wether or not you can pay this with your income post bankruptcy. Just think it through real careful.

[jp2861]

It won't be more than a couple hundred, if that. I just wasn't sure if I should wait until this BK is discharged or if it was OK after the 341 meeting.

[PaKettle]

You need to wait until after DISCHARGE to pick up new debt. Strictly speaking, you are not allowed to incur new debt anytime after filing and before discharge.

So, after Discharge, but before closing, is okay?

Also, this brings up another issue along these lines.
I have a $1000 overdraft protection wtih my bank, a bank I owe no money to and have never used the overdraft protection.

IF I were to use - or try to use - the overdraft protection, after filing, wouild that also be considered "new debt", that I should not incur until after discharge? I am guessing the answer is the same as if it was a new credit card? It just seems like it isn't because there is no "card" per se, it's just overdraft protection...

[HHM]

So, after Discharge, but before closing, is okay?

Also, this brings up another issue along these lines.
I have a $1000 overdraft protection wtih my bank, a bank I owe no money to and have never used the overdraft protection.

IF I were to use - or try to use - the overdraft protection, after filing, wouild that also be considered "new debt", that I should not incur until after discharge? I am guessing the answer is the same as if it was a new credit card? It just seems like it isn't because there is no "card" per se, it's just overdraft protection...

Yes, you can incur new debt between discharge and closing...

And Yes, if you use your overdraft, that is considered debt. So don't use it.