Is it 90 days or 6 months?

[marcie26]

That you need to wait to file for bk? (I mean, if I used a credit card the other day then is it the last 90 days that are looked at or the 6 months?) Sorry, does that make sense? I have just heard both and am unsure which is correct. I would LOVE for it to be 90 days so we can get this done and behind us. I have only been using one card and the rest have not been used for months - some I made payments on and some I haven't.

[MomIcantFindmy]

Section 523(a)(2)
Consumer debts owed to a single creditor and aggregating more than $500 for luxury goods or services incurred by an individual debtor on or within 90 days before the order for relief under this title are presumed to be nondischargeable; and
cash advances aggregating more than $750 that are extensions of consumer credit under an open end credit plan obtained by an individual debtor on or within 70 days before the order for relief under this title, are presumed to be nondischargeable.
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The 90 day/$500 rule is a good rule of thumb. Less than 90 days can be argued in some circumstances (ie: for the benefit of the debtors basic living expenses, not for luxury goods or services etc.) but that is a tough road to follow. Also, it is a good idea to make a few payments toward the debt. However, be careful not to pay too much to one debt and nothing to another as that can look like perferential payments and can be reversed in a BK hearing.

[marcie26]

Section 523(a)(2)
Consumer debts owed to a single creditor and aggregating more than $500 for luxury goods or services incurred by an individual debtor on or within 90 days before the order for relief under this title are presumed to be nondischargeable; and
cash advances aggregating more than $750 that are extensions of consumer credit under an open end credit plan obtained by an individual debtor on or within 70 days before the order for relief under this title, are presumed to be nondischargeable.
_________________________________

The 90 day/$500 rule is a good rule of thumb. Less than 90 days can be argued in some circumstances (ie: for the benefit of the debtors basic living expenses, not for luxury goods or services etc.) but that is a tough road to follow. Also, it is a good idea to make a few payments toward the debt. However, be careful not to pay too much to one debt and nothing to another as that can look like perferential payments and can be reversed in a BK hearing.

Thank you, that is so good to know that it isn't 6 months. We did use convenience checks a month or so ago for living expenses/bills so we will definitely wait at least 90 days from then. We did make small payments on those though so hopefully that helps.

[keepmine]

You need to ask yourself one question. Can you cover basic living expenses if, you stop making payments to all creditors that you wish to discharge?If you can't, bk won't fix your problem.