How long do I need to wait before filing a chapter 7 bankruptcy? 10 Answers as of January 16, 2017

I have some debt that was incurred in the last 12 months. The most recent was August. Debt incurred in hopes I would be able to control my debt but all I did was get further in debt.

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Ronald K. Nims LLC | Ronald K. Nims
There is no waiting period between incurring a debt and filing bankruptcy as long as the debt was incurred in good faith. For example, if you borrowed $10,000 to buy row 1 tickets to the Super Bowl and filed bankruptcy the next week, it's obvious you never intended to pay off this loan, so it wasn't in good faith.
Answer Applies to: Ohio
Replied: 1/16/2017
Stephens Gourley & Bywater | David A. Stephens
Generally 90 days is long enough.
Answer Applies to: Nevada
Replied: 1/11/2017
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
The attached form sets out the dates.
Answer Applies to: California
Replied: 1/9/2017
The Orantes Law Firm
The Orantes Law Firm | Giovanni Orantes
If you haven't filed for bankruptcy relief before, you can file at any time. You determine the timing of your filing, ideally after consulting an expert regarding whether you qualify for Chapter 7 or 13 (or 11 or 12 in some cases) and other pros and cons. Most people want to file as soon as possible to start rebuilding their financial life and credit rating as soon as possible since the credit rating does not usually start improving until after you at least file your petition.
Answer Applies to: California
Replied: 1/9/2017
GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
There is no magic waiting period. However, there is a "slippery slope" with these matters. My suggestion is you meet with an attorney face to face to ask your questions. I don't want to hazard a guess here. Good luck my friend!
Answer Applies to: Colorado
Replied: 1/9/2017
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    Just having made new debt will not prevent you from filing a bankruptcy. A better issue would be how much any single transaction was and what the debt was for. For example, $1,000 at the pharmacy or $1,000 for a hotel stay.
    Answer Applies to: Nevada
    Replied: 1/9/2017
    Garner Law Office
    Garner Law Office | Daniel Garner
    No need to wait any longer!
    Answer Applies to: Oregon
    Replied: 1/9/2017
    Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
    There is no set time you must wait after incurring a debt before you can file a bankruptcy petition. EXCEPT that you cannot discharge a debt incurred within 70 day before filing your petition if it is for a cash advance greater than about $875.00; or a credit purchase of 'luxury goods' costing more than $600.00 within 90 days before filing. Apart from those time periods, the important question is whether you incurred the debt with the intention of discharging it in bankruptcy. If you did, it is fraud and the debts could be excluded from the discharge. Get a skilled BR lawyer; it's almost always worth it.
    Answer Applies to: Wisconsin
    Replied: 1/9/2017
    Patrick W. Currin, Attorney at Law | Patrick Currin
    You can file now.
    Answer Applies to: California
    Replied: 1/9/2017
    The Law Office of M Grater LLC
    The Law Office of M Grater LLC | Mark O. Grater
    In general, assuming no fraud etc., you should be good after 90 days.
    Answer Applies to: Connecticut
    Replied: 1/9/2017
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