Filing BK soon who knows if...

[Anyutochka]

Hello everyone! i am new to this forum and to the idea of filing BK. But certain things need to be done. I have two mortgages on a house that total 205000 and about 20000 in dental bills, 65000 in credit cards, had to quit the job due to the surgery , going through the divorce, my ex left me with all the debts- like mortgage payments and credit cards. I have quite a few questions, first one is - do I qualify for chapter7? i had cash withdrawals form CC but only to make payments for the house, does it look to them like fraud? i d appreciate your answers thank you

[FilingOnMyOwn]

If you've made recent cash advances on your credit cards, you would have to stop using them and wait about 6 months before you should file.

Qualifying for a chapter 7 is determined by your income. It sounds like you have little or no income so if that is the case than you would definately qualify.

Go get some free consultations with attorneys and you'll get a better idea of what you're dealing with.

[lrprn]

No need to wait six months....it's best to file at least 70 days after a cash advance, and to stop using your credit cards completely at least 90 days before filing. You can file before the 70/90 day window, but then the burden is on you to prove that the cash advances/credit card use weren't fraudulent (you charged expensive items or got the cash advance on purpose knowing you would be able to discharge the debt without paying it). After the 70/90 day window, the burden of proof shifts to your creditors to prove fraud which is difficult to do.

[9877donna]

No need to wait six months....it's best to file at least 70 days after a cash advance, and to stop using your credit cards completely at least 90 days before filing. You can file before the 70/90 day window, but then the burden is on you to prove that the cash advances/credit card use weren't fraudulent (you charged expensive items or got the cash advance on purpose knowing you would be able to discharge the debt without paying it). After the 70/90 day window, the burden of proof shifts to your creditors to prove fraud which is difficult to do.

ITA.Wait at least the 70/90 day window to file BK like Irprn suggested and make a few consultation appt's with some attorneys in your area like Filingonmyown suggested.
Good Advice.
Donna

[Anyutochka]

If you've made recent cash advances on your credit cards, you would have to stop using them and wait about 6 months before you should file.

Qualifying for a chapter 7 is determined by your income. It sounds like you have little or no income so if that is the case than you would definately qualify.

Go get some free consultations with attorneys and you'll get a better idea of what you're dealing with.

Thank you for the info, my last cash advance was about 300 dollars- i was trying to make the payment for the car. And now my ex is filing for divorce-who knows whats happens? do i have to wait till divorce is final or start BK?

[lrprn]

do i have to wait till divorce is final or start BK?

Generally most lawyers will advise you to divorce first, then file bk once you have a sense of your own living expenses, utility bills, etc as a single. By filing after the divorce, you will know which of the two of you is responsible for assets and mutual debts. If you file before the divorce is final, the responsibilities may not end up divided as expected which will complicate your Ch 7 a great deal.

However, we don't know the specific circumstances surrounding your divorce, Anyutochka, so be sure to ask your divorce and bankruptcy lawyers what's best in your case.

Sorry to hear you are going through so much stress right now - as time goes on, everything will improve. Remember we're here to answer questions and give support when you need it. Hang in there and keep us posted on what's happening, ok?

[HHM]

I agree with lrprn, it is certainly much cleaner to file BK AFTER the divorce. Mostly because the assets get divided, and you get a better sense of you financial position.

Also, if you file BK during the Divorce, the BK stops the divorce proceeding (which tends to piss off the other party). You can get the divorce proceeding restarted even while you BK is pending, but you typically end up delaying the divorce for about a month if you file BK during a Divorce.

Since you are considering BK, you need to figure out a way, in a hurry to STOP using your credit cards.

When was the last time you made a payment to a credit card. If your cards are current, you should probably stop making payments (don't worry, you probably won't be sued by the creditors until 9+ months, and usually much longer, after the date of your first missed payment, so you have some time).