Re: Zero Consumer Debt filing for Bk can I keep any of my 16 cards[ Edited ]
01-31-2013 04:43 PM - edited 01-31-2013 04:44 PM
Worse IMO. Since you know you are going to file don't activate the cards and start using them just prior to filing. That could be an issue in your BK even if they are paid off when you file.
The trustee has the ability to claw back each of the payments you made to each of the creditors to turn your case into an asset case. It is not just limited to 90 days although that is the period most frequently reviewed. In my filing the trustee went back a much longer period (all business related too) for everything. Remember the trustees get a bonus if they can find assets in a Ch 7 case. I assume you are filing Ch 7 for your business - right? or is it Ch 11 (or 13). You are filing personally because everything has a PG, right? Expect a little extra scrutiny. Since you have already met with and possibly retained a BK attorney at this point, it could be negatively construed if you activate and start using the cc's now. Don't risk it.
Recon = reconsideration. You do that with a credit analyst if you are turned down for a new line after you are successfully discharged.