Do I have to wait 90 days before filing bankrupcty? 13 Answers as of May 12, 2011

I was told that no matter how much you charge up on your credit cards, that if you wait ninety days before filing you'll be okay. Then I was told this is not true, they can go back a lot longer?

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Law Office of Asaph Abrams
Law Office of Asaph Abrams | Asaph Abrams
The 90 days prior to filing are a "presumption" period. It is not a waiting period that clears one of all past fault.
Answer Applies to: California
Replied: 5/12/2011
Dearbonn Law Offices
Dearbonn Law Offices | Ajibola Oluyemisi Oladapo
That is true, you should not charge up your credit cards at least 90 days before you file.
Answer Applies to: Washington
Replied: 5/10/2011
Indianapolis Bankruptcy Law Office of Eric C. Lewis
Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
Not exactly true. 90 days is the look back period in which the presumption arises that the debtor was insolvent and knew he or she would not be able to pay back the obligations. However, the creditor can look back farther when it can be shown that there was an actual or constructive intent to run up the credit without repaying.
Answer Applies to: Indiana
Replied: 5/9/2011
Bankruptcy Law office of Bill Rubendall
Bankruptcy Law office of Bill Rubendall | William M. Rubendall
Debts incurred within 90 days of filing bankruptcy are presumed to be made without the intent to pay them. Debts incurred more than 90 days before can be nondischargeable if there was no intention of paying them, such as charging up on your credit cards.
Answer Applies to: California
Replied: 5/9/2011
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Yes, they can go back at least 6 months. If there is actual fraud they can go back further.
Answer Applies to: California
Replied: 5/9/2011
    Bankruptcy Law Office of Robert Weed
    Bankruptcy Law Office of Robert Weed | Robert Weed
    Within 90 days you have to prove what you spent was allowed. Over 90 days, they have to prove it wasn't allowed. When you say "no matter how much you charge"that sounds like the kind of thing where they could go back a lot further than 90 days.
    Answer Applies to: Virginia
    Replied: 5/6/2011
    The Schreiber Law Firm
    The Schreiber Law Firm | Jeffrey D. Schreiber
    90 days is the time to change the burden of proof as to fraud. If the charges are within 90 days,you have to prove that the charges were made without any ability to repay. Outside of 90 days, the burden shifts to the creditor to prove it. At any time before filing if you make charges when you do not have the ability to repay or never make payments after using the card then file bankruptcy, that is also can be fraud, no matter when the charges were made.
    Answer Applies to: California
    Replied: 5/6/2011
    Carballo Law Offices
    Carballo Law Offices | Tony E. Carballo
    They can go back one year for luxury items purchased but there is a presumption of fraud if you file within 90 days which makes it very easy for the bank to force you to pay what you charged within 90 days of filing for bankruptcy, especially for charges which are not for absolutely necessary things like food, gas, medical and basic clothing items.
    Answer Applies to: California
    Replied: 5/6/2011
    Jackson White, PC
    Jackson White, PC | Spencer Hale
    Luxury purchases within 90 days of filing will certainly not be discharged in bankruptcy. However purchases outside the 90 day period can still be determined non-dischargeable. The credit card company has to more to prove, but it can still be done.
    Answer Applies to: Arizona
    Replied: 5/6/2011
    The Law Office of Mark J. Markus
    The Law Office of Mark J. Markus | Mark Markus
    What you were told initially was completely and utterly false. There is no magic time period. If you run up your credit card debt and the creditor can prove that at the time you made the charges you did not intend, or have the reasonable expectation of being able, to repay the debt (charge) then it can be declared non-dischargeable by the court. The 90-day period merely shifts the burden of proof during that time period from the creditor to you, so it is somewhat more difficult for them to prove there case if it is outside the 90 days, but by no means is it impossible.
    Answer Applies to: California
    Replied: 5/6/2011
    Ursula G. Barrios Law
    Ursula G. Barrios Law | Guillermo Machado
    Lie. A creditor can smell fraud a mile away. If you rack up your debts 91 days before filing and I were a creditor attorney and found out, I would file a 523 action against you for fraud. Proceed with caution. If it feels wrong, don't do it is this attorney's advice.
    Answer Applies to: California
    Replied: 5/6/2011
    Law Offices of Joseph A. Mannis
    Law Offices of Joseph A. Mannis | Todd Mannis
    Depends on how much you charged up, over what period of time, and what was it used for.
    Answer Applies to: California
    Replied: 5/6/2011
    The Orantes Law Firm
    The Orantes Law Firm | Giovanni Orantes
    The latter is correct. The credit card companies can review your payment history and often do so for the last year or so prior to your bankruptcy petition to check for anomalies in your spending habit. For example, if you buy a $10,000 Sea Doo with one of your credit cards and soon thereafter stop making payments the way you usually made them prior to that point and then file for bankruptcy protection, the creditor may argue that you incurred the debt under false pretenses because you always intended to discharge them. I have seen American Express and Chase do this in 2 out of 300 cases. In the overwhelming majority of cases, however, the creditors do not bother the debtors. Nevertheless, you should not alter your spending habits unless it is for necessaries of life. To assess your specific situation, however, you should come and see us. Make an appointment for a free initial consultation.
    Answer Applies to: California
    Replied: 5/6/2011
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