6 Month Waiting Period

[CANTDOIT]

What do you guys mean, when you say to wait six months before filing? Does it mean if i do any transfers or purchases to make payments for six months?? Or can i make 3 or 4 payments then wait two more months to file.. I did some transfers 3 months ago but i just lost a big part of my income.. Hope it makes sense. Thank You

[cool33097]

Its best if you wait 6 months since your last transaction.

[Cali]

Normally the 6 mths waiting period is to make sure time has passed from last purchase, cash advances and for some to save the money to hire an attorney.

[TEW]

waiting 6 months

My lawyer wants me to wait 6 months before I file. Resin after I retired I went back to work in an attempt to pay these bills.
I made to much to pass the means test for chapter 7
Since I am letting the house go I will be putting money away so I have some in the bank to get restarted. After BK.

[BKORNOBK]

So what's the answer to this question ?

What do you guys mean, when you say to wait six months before filing? Does it mean if i do any transfers or purchases to make payments for six months?? Or can i make 3 or 4 payments then wait two more months to file.. I did some transfers 3 months ago but i just lost a big part of my income.. Hope it makes sense. Thank You

[JRScott]

It depends on your situation.

Many lawyers prefer to put as much distance as possible between you and any balance transfers or purchases to limit the possibility of the creditor objecting.

In addition for some their pay might be above median and thus waiting several months can drop them down and help towards a successful bk.

[BKORNOBK]

Does anyone have an answer to the actual question? It's interesting.

What do you guys mean, when you say to wait six months before filing? Does it mean if i do any transfers or purchases to make payments for six months?? Or can i make 3 or 4 payments then wait two more months to file.. I did some transfers 3 months ago but i just lost a big part of my income.. Hope it makes sense. Thank You

[keepmine]

What do you guys mean, when you say to wait six months before filing? Does it mean if i do any transfers or purchases to make payments for six months?? Or can i make 3 or 4 payments then wait two more months to file.. I did some transfers 3 months ago but i just lost a big part of my income.. Hope it makes sense. Thank You

Creditor objects are rare but, they do happen. As a general rule, the more distance between credit card usage and filing the better.
My lawyer told me he had never lost an adverserial proceeding when there had been at least 6 months between use and filing and had never even had a bk contested when there had been at least a year since any cc use and filing date.

So, if the charges/balance transfers are large and you haven't been abke to make minium payments-wait as long as possible to file.

[diviaruba]

So what's the answer to this question ?

Well, noob, you keep fishing for a definitive answer and you're not getting one. That's because there is none. Read about people's experiences here. You'll soon come to realize that each filing is unique, and has dozens of variables that do not lend themselves to easy answers in black and white.

Take and weigh every response you're seeing, then ask your lawyer the same question. I'd be willing to bet you'll get the same kind of response.

[AngelinaCatHub]

Divi: That is exactly the right answer. Everybody has different reasons for the problems they have gotten in. The only common denominator is bk can releave those from the stress and give them a new start. It grits at me when I see a member ask, when can I get a new credit card after my bk? I then see red and see the loop may just go around for that person again. NO not in every case. But temptation will come in hundreds after bk. Junk credit cards are offered because you cannot bk again for 8 years and then they can get a Judgment and take what is left. I beg everyone to stay away from CC cards. It is my opinion and choice to do so only. Weigh it on your own. 'Hub

[Cali]

I agree with Diviaruba on this.

[BKORNOBK]

After hours of reading posts I found myself curious.

Certainly there is no definitive answer- I simply thought there might be a more to learn from generating more replies.

There's no need to assert a sense of ownership with the "noob" comment.

I appreciate all the help.

Thank you.

[newstart4me]

Hi Tew! So does the money you are speaking of come from the exemption allowance you will receive from your house? I thought you had to surrender any cash you have when you file. Did I get that right, or did I misunderstand?

[newstart4me]

Divi: That is exactly the right answer. Everybody has different reasons for the problems they have gotten in. The only common denominator is bk can releave those from the stress and give them a new start. It grits at me when I see a member ask, when can I get a new credit card after my bk? I then see red and see the loop may just go around for that person again. NO not in every case. But temptation will come in hundreds after bk. Junk credit cards are offered because you cannot bk again for 8 years and then they can get a Judgment and take what is left. I beg everyone to stay away from CC cards. It is my opinion and choice to do so only. Weigh it on your own. 'Hub

AngelinaCatHub: Your point about cc setting the trap to get the newly discharged person in much worse trouble (no way out) is major. Thanks for connecting those dots for me and other members!

[Cali]

I don't think Divi was asserting a sense of ownership with the term noob. It seemed as if you were fishing for answers, because many had responded. It looked as if you weren't happy the answers given.

After hours of reading posts I found myself curious.

Certainly there is no definitive answer- I simply thought there might be a more to learn from generating more replies.

There's no need to assert a sense of ownership with the "noob" comment.

I appreciate all the help.

Thank you.