90 days waiting period?

[2muchdebts]

What's the real purpose of the 90 days waiting period?

It is just a matter of being able to discharge the latest charges incurred in the credit or what?
If i file before the 90 days, what can happen:
1-That the latest cc charges wont be discharged?
or
2- That the whole BK process does not get thru??

Please somebody clarify that for me!! I can't wait 90 days!! I would like to file right away!!

Thanks a lot!

[danaf]

The purpose was to prevent abuse. Anything less than 750 - everyday type purchases, I wouldn't worry about it. But anything over, luxery types purchases, cash advances - better if you wait. Why risk an objection for abuse?

[hopeforus]

So paying a phone bill and groceries would be ok for another week?

[hopeforus]

We aren't filing till summer anyway, so I guess that's way over 90dys.

[2muchdebts]

The purpose was to prevent abuse. Anything less than 750 - everyday type purchases, I wouldn't worry about it. But anything over, luxery types purchases, cash advances - better if you wait. Why risk an objection for abuse?

i see your point. In that case that will affect the whole BK process or just the accounts with the objection?

[BassBoy]

i see your point. In that case that will affect the whole BK process or just the accounts with the objection?

Creditors may only object to the dischargability to the debt you incurred with THEM. If there's an objection, then the debtor may owe the debt incurred within that 90 day period. Otherwise, an objection usually doesn't effect the whole BK process.

[AngelinaCatHub]

So paying a phone bill and groceries would be ok for another week?

[hopeforus]

I do realize this.

And we actually can support ourselves now that we aren't paying our mortgage or CCs , but we did pay our mortgage this month as well as pay for my husband's rent in Ohio. But our prob right now is my husband gets paid once a month. That is in ... about 1.5wks. We have just enough in our bank to cover the car payment and car insurance and that's it because we just pulled the rest out for my husband to put down on a rental in the state he is in right now for all of us to join him there at the beginning of December. Well, 500.00 to hold one until we get paid in 1.5wks. Then we will be fine. We are just struggling until we get paid. I have zero money in the bank to pay for 1.5wks worth of food and diapers. (btw we only in the last week or so decided bk was the way we were going to have to go... after we paid our mortgage etc of course lol And we aren't filing till around August.) I have no desire to put anything on our cards but I'm wondering if I should just use one for groceries because it's only a week and a half before I don't have to even do that anymore... We need diapers. I wish we thought about this before paying the mortgage this month. That's 1700.00 that could be in our bank...

[2muchdebts]

I do realize this.

And we actually can support ourselves now that we aren't paying our mortgage or CCs , but we did pay our mortgage this month as well as pay for my husband's rent in Ohio. But our prob right now is my husband gets paid once a month. That is in ... about 1.5wks. We have just enough in our bank to cover the car payment and car insurance and that's it because we just pulled the rest out for my husband to put down on a rental in the state he is in right now for all of us to join him there at the beginning of December. Well, 500.00 to hold one until we get paid in 1.5wks. Then we will be fine. We are just struggling until we get paid. I have zero money in the bank to pay for 1.5wks worth of food and diapers. (btw we only in the last week or so decided bk was the way we were going to have to go... after we paid our mortgage etc of course lol And we aren't filing till around August.) I have no desire to put anything on our cards but I'm wondering if I should just use one for groceries because it's only a week and a half before I don't have to even do that anymore... We need diapers. I wish we thought about this before paying the mortgage this month. That's 1700.00 that could be in our bank...

Why you have to wait until august to file?

[hopeforus]

Why you have to wait until august to file?

Well, honestly I want to wait as long as possible. We have a severely affected autistic child and I haven't been able to afford therapy outside of school for him. Insurance won't cover autism therapies at all except in a few states. We will finally be able to have the money to provide for our son and I was hoping to get at least 6mos of history behind us before we file. So that we won't pay 1k a month for therapy for our child right before we file when we hadn't done it before. But it's been because we couldn't So I'm just wanting to get a good history of his costs before so that there are no fraud issues. Also... he is non verbal and desperately needs a dynavox communication machine. Insurance doesn't pay for these for Autism so I was hoping to use our tax refund in february to buy one for him. I need my child to be able to learn to communicate with us at home and he cannot do this without these things. I was hoping to wait 6mos after receiving our refund so we can purchase this for him and not have it included in our income...

Glad you asked? lol

[willsurvive]

Have you stopped making cc payments entirely?

Do cc let you charge even if you aren't making monthly payments? Just asking, because I have no idea . . .

That being said if you truly are waiting until August to file,then I wouldn't think that this would be a case of fraud for everyday living expenses like diapers and food, but that's just my opinion.

[hopeforus]

We have only missed one credit card payment so far. Most of them aren't due till the end of this month.

And honestly, we only decided this last week. If we didn't even think of this being an option for us we would be using the cards for a lot longer than this coming week.

Shoot, I'd be willing to pay them back for this week of charging LOL I just want to be able to buy stinking food and gas and diapers. Sigh. Why didn't I not think of filing until after this week ;)