Question On filing chapter 7 Bankruptcy?
Jul.22, 2009 in
Bankruptcy
I live in texas. there are many rules lined up that if you break your debt will not be liquidated. for example there’s one that says if any recent purchases with a substantial amount will not be forgiven. My question is how long before they will not view them as "recent" purchases and can be forgiven
July 22nd, 2009 at 3:15 am
Both the posts are correct…Contact a local bankruptcy attorney in your area and get in to see one with a free consultation. With the new laws you definitely want to make sure you are within the bk laws and an attorney can advice you correctly. As the first post stated, usually it’s 6 months, and an huge credit card transfers with large sums of money can dismiss the bankruptcy as the trustees look at that like abuse. But, go in and see a good bk attorney and get the best answers from the ones that know the law. Good Luck!!
July 22nd, 2009 at 3:15 am
6 months in California for anything over $500. No idea about Texas, but it’s probably something like this.
July 22nd, 2009 at 3:15 am
Among other excluded items are:
Recent large purchases of more than $550 for luxury goods bought within 90 days of filing
Cash advances of $825 within 70 days of filing