Posted on: 25th Oct, 2010 11:48 pm
when can a person file chapter 7 how long after using credit card for gas and cash advance 2 months ago with out committing fraud or having case dismissed. cash advance was for 300 dollars. is the waiting period time between card used and date you retain attorney or when the petition is filed?
Hi rmathews,
Welcome to mortgage fit,
One can file bankruptcy at any point of time and there is no restriction as such that you have to wait after purchase for few months to file a ch.7.
But it is advisable that if the amount owed to credit card is not big enough then one should preferably look for other alternatives than ch.7 because Bankruptcy remark remains on your credit report for min 7 yrs and thus just for the sake of USD 1k unsecured debt I do not wish to have that remark.
Rather I will ask the credit card company for the settlement value and get rid of the loan without wasting my money and time on legal proceedings.
Feel free to ask any further query if you have
DIPA
Welcome to mortgage fit,
One can file bankruptcy at any point of time and there is no restriction as such that you have to wait after purchase for few months to file a ch.7.
But it is advisable that if the amount owed to credit card is not big enough then one should preferably look for other alternatives than ch.7 because Bankruptcy remark remains on your credit report for min 7 yrs and thus just for the sake of USD 1k unsecured debt I do not wish to have that remark.
Rather I will ask the credit card company for the settlement value and get rid of the loan without wasting my money and time on legal proceedings.
Feel free to ask any further query if you have
DIPA