? re: look back on charges before filing...

[JackFrostMI]

From everything I'm reading on all the different posts here I'm starting to realize that the "look back" isn't just on income - they look at charges too?

My question is, my husband just used a charge card that I'm joint on in the past month (husband is NOT filing for BK). Is that going to affect my filing? My understanding is anything we are joint on (cc & loans) will become his sole responsibility when I file and will not affect his credit rating - is that right? What is the rule for looking back at last time a charge was made - for our joint cards and my cards that I'll be filing BK on? Just trying to get a better idea of how to decide the timing for actually filing for BK.

[NewPage]

I know someone with a more definite answer will come along, but I believe 90 days is the magic number/time frame for many things.

[helpmeout]

To be on the safe side, even though your husband will become solely responsible for the joint credit cards, he needs to stop using the joint credit cards. If he is unable to do so, then you have bigger problems that need to be addressed.

[spetkovich]

The debt on the joint cards will be discharged as to you only in bankruptcy. Thus, anything your husband charges, he will have to pay back.

The purpose fo the lookback period (the 90-day timeframe) is to create a presumption that you are insolvent immediately prior to your bankruptcy, and thus any debt incurred is presumptively incurred fraudulently (i.e. without the actual intent to pay it back). Since your husband will still be liable on any and all charges, there is no presumption of insolvency as to him, and no issue regarding fraudulently incurred debts (i.e. debt incurred without the intent of repayment).

Long story short? Maybe shouldn't be charging just with financial planning concerns in mind, but for bankruptcy purposes it doesn't matter if he charges on cards that he will still be responsible for after your filing.