How long do I have to wait before I can file for bankruptcy? 31 Answers as of January 17, 2012

Your credit card bills for holiday gifts may not be dischargeable. Discuss your particular case with an attorney.

There is a presumption that you committed fraud if you file within 90 days of using credit for luxury items or services. However, the creditor can go back one year if the creditor can prove that you never intended to pay for the luxury items or services charged. That's not hard to do if the person is unemployed or makes very little money and decides to buy a $3,000 TV or go to Las Vegas on vacation and not make any payments a few months before filing the bankruptcy case, particularly if that is unusual behavior for the person based ont the previous use of the credit card charged. You could be asked to pay back the amount charged (maybe including attorney's fee) or be sued in bankruptcy to have the court determine that the fraudulent charges are not dischargeable (and this is expensive to defend). If the amount is big enough you could even be denied a discharge which means you will never be able to get rid of those debts in the petition ever. There is even the potential for criminal charges. You need to stop using credit cards for a least 90 days and maybe even make some minimum payments for 90 days. The safest thing would be to wait a year to file the bankruptcy case but that may not be necessary depending on the situation. You need to consult with a lawyer to determine the best course of action based on the amount charged and the items or services purchased. Also, some creditors are more aggressive than others and a bankruptcy attorney knows who those creditors are based on experience.

It is fraud to incur debt with the expectation that you will discharge the debt in a bankruptcy proceeding.You also need to disclose gifts within the recent months before the filing. However, the creditors would have to object.

While there is no set waiting period when it comes to discharging recent debts, incurring debt in anticipation of filing bankruptcy is presumptively fraudulent. If a credit card company can establish that you made charges on your account knowing that you could not repay, it can render the charges non-dischargeable: essentially gutting your bankruptcy case. But what you've described is common, and you have to do what you have to do, so I recommend seeing a qualified bankruptcy lawyer that can explain your options under *11 U.S.C. 523(a)(2)* and *727*.

You cannot discharge debts over 600 dollars that was spent in one single transaction in the last 6 months for non essential goods. But that's only if credit card companies contest the dischargeability and they usually don't.

No there is no waiting period for filing after using them.

Typically, you should wait about 90 days. If you took out any cash advances, you should wait at least 70 days. Remember, depending on the type of credit card you charged, the creditor may have a purchase money security in the item purchased. This happens with cards which finance jewelry, appliances, furniture, electronics, etc. These items are secured and may not be dischargeable (exceptions apply) without returning the collateral (item purchased) no matter how long you wait. These creditors that have a purchase money security in such items are treated as secured creditors. This scenario equates to that of an auto loan, in order to keep the car, you must pay the loan. If you do not want to pay the loan, you must surrender your car (i.e. to keep the items purchased, you must pay the loan, otherwise, you must return the item).

The short answer is 90 days. Debts related to consumer goods aggregating more than $500 to any single creditor purchased within 90 days are presumed to be non-dischargeable.

Non-essential credit card debts to any one creditor totaling more than $500 incurred within 90 days of filing bankruptcy are presumed non-dischargeable. Additionally any credit card debt incurred any time prior to filing may be deemed non-dischargeable if the creditor can prove that the debt was incurred under false pretenses.

Any debts that were incurred without the intent of repaying would be bankruptcy fraud. You need to take a good look at your intent and try to make things work before falling back on a bankruptcy since this may be fraudulent.

You would generally have to wait 90 days. If you attempt to discharge a debt that was incurred within 90 days of the filing, the creditor would challenge the filing.

You have to wait at least 90 days, and not incur any new charges. Also, you still have to qualify for bankruptcy, as it is not automatic.

Stop using your cards and continue making the minimum payments for about 3 months before filing.

You should wait to file your bk case until you've gone 6 months w/o credit card usage.

Stop using your credit cards. If you know you are going to file BK you should not be taking on any more debt. Wait at least 90 days to file, longer if you can. The long term problem is you have to stop spending money you don't have.

You must stop using your credit cards immediately since you are thinking about filing for bankruptcy. You must set up a free and confidential appointment with a local and experienced bankruptcy attorney in your area so that together you can determine what is best for you in your situation. Large purchases, purchases of luxury goods and cash advances prior to filing bankruptcy are a serious problem. There is always a risk that a creditor will object to discharge if you incurred any of the debt fraudulently, knowing you weren't going to repay it or if you should have known you didn't have the money to repay it. At a consultation with a bankruptcy attorney all of this will be discussed, we will analyze your credit use advise you accordingly. So unfortunately there is no set "time" that you must wait, as with other things in life, it just depends on the specific facts.

If the debt is for a consumer debt owed to a single creditor and aggregating more than $600.00 for luxury goods or services within 90 days prior to filing bankruptcy, or for cash advances aggregating $875.00 within 70 days prior to filing bankruptcy, those charges are presumed to be fraudulent and the creditor could sue for a determination that those charges are not discharged in the bankruptcy. If the charges are beyond the time limits for the presumption of fraud, the creditor could still potentially ask the court not to discharge the debt, but they would have to prove that you intended to defraud them. For that reason, it is best to consult with an attorney face to face or at least over the telephone regarding this issue.

The law states that any debt incurred 90 days prior to filing is presumed to be fraud. However, this does not mean that you can go out and charge debt and file for bankruptcy after 90 days. The bright line rule is that anything within 90 is fraud. However, debts incurred outside that period can still be fraudulent. Any debt incurred by a person who has no intent on paying the debt is fraud. So, if a creditor can prove you incurred the debt without an intent to pay the creditor can seek the debt declared fraudulent and non dischargeable. The more you charge and then file for bankruptcy the more likely it is that a creditor will object to the debt being included in a bankruptcy.

It is fraudulent to make any charges on credit with the intent to discharge them in bankruptcy and not pay. There is a presumption that charges made within 90 days of filing are fraudulent. Depending on the type and amount of charges, creditors may be able to look back even farther.

You can file anytime but beware of making large-dollar or luxury items purchases with your credit cards.

A minimum of three months (six months is better) after the last charge AND making payments on the cards in the interim. Otherwise, it is presumed you made the charges without any intent to pay them, which is fraud, and fraud cannot be discharged.