90 Day Rule?

[GeorgiaFarmer]

Is there a significance to not using credit cards 90 days prior to filing?

[magyar123]

A big one - Never use a credit card, especially for big expensive purchases 90 days or less before filing. Creditors will have a good reason to object to the dischargeability of debts like that, and any creditor friendlyasskissing trustee will side with them. A tank of gas here and there, a meal or two at a coffee shop can slide by, but nothing major except maybe a doctor's/hospital bill that is not paid by your insurance, or if you don't have any health insurance.

[lrprn]

Is there a significance to not using credit cards 90 days prior to filing?

After 90 days the burden of proving that you charged fraudulently knowing you were going to file shifts from you to your creditor. Since it's hard for a creditor to prove intent, it's to your advantage to not charge for 90 days before filing.

[inhocknow]

After 90 days the burden of proving that you charged fraudulently knowing you were going to file shifts from you to your creditor. Since it's hard for a creditor to prove intent, it's to your advantage to not charge for 90 days before filing.

Hello..Why is the rule only 70 days for cash advances? Seems strange to me. Thank you.

[HHM]

Hello..Why is the rule only 70 days for cash advances? Seems strange to me. Thank you.

I don't really know why...but keep in mind, the 90 day rule for use of consumer credit only applies to non-necessities. The 70 day rule for cash advances has no such restriction. Any cash advance, regardless of the purpose for which you take it out, will be presumed fraudulent.

[ad_25]

So, you can take out cash, but it's considered fraudulent if you do? If that's the case, why would they tell you that you can take the cash out in the first place?

[familyof7]

It is only fraudulent if you file bankruptcy before 70 days is up from the time you take the cash advance. It is harder to prove you ONLY used the cash for necessity items. Charges can be traced to the exact use.