Does the trustee question all the debt and how it was acquired or do they concentrate on the expenses and income to determine if you qualify for a Chapter 7?
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Generally, the BK trustee does not care how you got into debt. Some will ask in a general way (i.e. how did you acquire the debt), but you can also answer in a very general way. The chapter 7 trustee's main purpose is to see if you have any non-exempt assets that can be liquidated to pay at least something to your creditors. -
I was not sure...I have balance transfers and convenience checks that I used to help make min payments current on all accounts. It will be at least 6 month until I'm ready to file so I was thinking I might be ok by then. I have over 150k of unsecured.Comment
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Your individual creditors might take issue with recen cash advances and balance transfers, and the US Trustee, given the amount of debt may pop-in to make sure there was no obvious abuse, but by-and-large, how you got into debt does not effect your BK.Comment
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My trustee did ask me how we got this much debt. I my answer was "we used our cards to live on for many many months. We used it to buy groceries and living expenses.Comment
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