how long can you keep using credit cards before you file

[CH33 Paralegal]

OMG 22 cards wow

is your debt amount right? 1.2 mill? That's what someone should say OMG about.

[mmenz22779]

is your debt amount right? 1.2 mill? That's what someone should say OMG about.

YUP one million smakers,

Acually it is because i have 3 houses in california that all lost 50-60% of value. So most of the debt is secured. My unsecured debt is 40k.

how about this, in 2006 i was worth 2 million LOL

[CH33 Paralegal]

yeah, it is what it is. CA is in a sticky situation right now.


yeah and if you were anywhere but cali with their laughable appraisal logic, you might not have even needed to file.

[mmenz22779]

yeah, it is what it is. CA is in a sticky situation right now.


yeah and if you were anywhere but cali with their laughable appraisal logic, you might not have even needed to file.

you win some and lose some.

I have a good job, wonderful wife and 2 great kids, thats all i need to keep me happy (ohh ya and my cheetos and Andes).

Money comes and money goes.

[TBLTZ]

I thought about this and pretty much its a cycle. I used the cc cause i don't have the cash. I don't have the cash because im paying the ccs bills

Two questions.

What happens If I have to use a credit card for work close to the day I file? Such as I have to stay in a hotel for a week? Its usually about 700$ and I pay it back within a week work reinburses.is that going to be a problem?

2nd questions.

Im thinking I will pay july bills and not pay august sept maybe some of oct. Im going to get a new used car. I will included my current car in the BK. how long do I have before the old car gets repoed if i don't pay? does it matter if they take it away before I file bk? I will probably file bk sometime in oct.

[mmenz22779]

I thought about this and pretty much its a cycle. I used the cc cause i don't have the cash. I don't have the cash because im paying the ccs bills

Two questions.

What happens If I have to use a credit card for work close to the day I file? Such as I have to stay in a hotel for a week? Its usually about 700$ and I pay it back within a week work reinburses.is that going to be a problem?

2nd questions.

Im thinking I will pay july bills and not pay august sept maybe some of oct. Im going to get a new used car. I will included my current car in the BK. how long do I have before the old car gets repoed if i don't pay? does it matter if they take it away before I file bk? I will probably file bk sometime in oct.

you first question is it not a issue, the money is accounted for.

your second question. if you have been paying your cards then stop paying and stop using. now, from now till oct is 4 months that is past the 90 day window. Buy your new car now, while your credit is still good. it will be a no assest when you file so the trustee should not care if in a 7, if you are in a 13 then you just include it with your payment plan. for your current car I would say about 3 months, it does not matter if they take it before you file, as you will still include in the BK to procect your self. Buy the new car before your credit gets hit thought, i did that bought a used MXD in november 08 and filed in may 09, no problems.

[TBLTZ]

you first question is it not a issue, the money is accounted for.

your second question. if you have been paying your cards then stop paying and stop using. now, from now till oct is 4 months that is past the 90 day window. Buy your new car now, while your credit is still good. it will be a no assest when you file so the trustee should not care if in a 7, if you are in a 13 then you just include it with your payment plan. for your current car I would say about 3 months, it does not matter if they take it before you file, as you will still include in the BK to procect your self. Buy the new car before your credit gets hit thought, i did that bought a used MXD in november 08 and filed in may 09, no problems.

Thanks for the info. IS that an acura you bought? If so did they care it was luxury car?

[TBLTZ]

didn't mean to quote myself...

[mmenz22779]

Thanks for the info. IS that an acura you bought? If so did they care it was luxury car?

Yes it is a Acura, and i guess it is a luxury car, but it was used and cost me 20k.

Plus i needed a family car as my second child was going to be born the next month.

So use common sense, dont go out and buy a new 50000 convertable sport car then file and expect not to get question on that.

My purchase was under the radar,

I had a need (a family car and i was not going to buy a peice of crap)
I bought it used for 20k (a new MDX runs around 45-55k
I bought it 6 months before i even filed.

so there is nothing for them to really argue about.

[TBLTZ]

Yes it is a Acura, and i guess it is a luxury car, but it was used and cost me 20k.

Plus i needed a family car as my second child was going to be born the next month.

So use common sense, dont go out and buy a new 50000 convertable sport car then file and expect not to get question on that.

My purchase was under the radar,

I had a need (a family car and i was not going to buy a peice of crap)
I bought it used for 20k (a new MDX runs around 45-55k
I bought it 6 months before i even filed.

so there is nothing for them to really argue about.

Thanks for the help. Makes me feel better that I don't have to restrict myself to a few cars.

[banca rotta]

I believe 6 months before you file.

I like this answer the best! Short and sweet and true! Also seems that some here that charged inside six months of filing usually had issues with creditors attorneys disputing their case.

Since you are talking about necessities it may not matter if you used it the day before you filed but I personally would burn all my cards 180 days before filing and that's exactly what I did.