I am over 130,000 in debt will this hurt me filling a Chapter 7

[staron]

Someone said it will. I lost job could only fine parttime work. Most of it is Card cards.I was paying 6 months ago, but then my money ran out. With fees rates jumping up to 28%

[Chabelo]

Depends, if you make more money then you need for basic living, then whatever's left you have to give to the creditors, that's chapter 13.
If you have nothing left, then you'll qualify for chapter 7 with no problems!

[locolady]

Not unless you charge a bunch of that amount in the last 12 months. I bk 100k in CC not a word was ask about it but most of it was over two years since last paid. I think your mean test and if that is passed, is the most critical factor in chapter 7 filling sucess.

[carlsbadmike]

I was also in credit card debt for $130K when I filed. I hadn't paid credit cards in 3 months, was in the process of dissolving a business, was on disability, and was helped by attorney to qualify for a CH 7. If you've been mostly unemployed for the last 6 months, and haven't charged anything major in the last several months, you will probably qualify on the means test. Good luck to you.

[BKParalegal]

I think everyone kind of missed the point of Staron's question. This has nothing to do with the means test. What flag is raised is the UST will most likely review your case ( you will have no idea that they are at the time). The question they will have is how did you rack up 130k in CC debt and have nothing to show for it ( this assuming all of your assets are below the exemptions). If they suspect that you are hiding stuff, then they will file a presumption of abuse and hold a 2004 examination. These are happening more frequently, which is still very rare, and once you show them that you didn't abuse the cards then they will go away. I had 4 last year in our office and we won every time. UST-0 US-4. Of course, we review all of this before we file cases to be prepared if it is chosen.

Good luck

[brokejoker]

We discharged over $150,000 in unsecured debt. We did get extra questioning about the amount of debt from the trustee at our 341 but he was satisfied with our answers. We also got a 30 day extension on the time for creditors to file objections (turning the 60 days into 90 days plus 2 weeks for the notices to go out). It was no big deal since there wasn't any fraud in our case and our discharge came through without a presumption of abuse, audit, or any creditors objecting inthe end. I hope that helps ease your mind!

[indeep59]

Same here.had enormous cc debt,well over 100k. Not a question was asked, and I hadn't used any of the cards for the prior 8-9 months,and stopped making payments for that time period too.