topic Re: Another lookback question. in Bankruptcy

Another lookback question.

Tomew2000 — Sat, 19 Dec 2020 13:54:24 GMT

I have a very simple question. Does the 6 month lookback start the day you stop paying your bills, or from the date you actually file?

Re: Another lookback question.

DebtStinks — Sat, 19 Dec 2020 16:29:35 GMT

With regards to income, it's from the date you file...as a result, I had to wait until the 1st of the month following 6 months after income dropped for my attorney to file my case...this was because I was WELL over the max income to file CH7 with my salary before losing my job.

Best of luck!

Re: Another lookback question.

Tomew2000 — Sat, 19 Dec 2020 16:36:24 GMT

Got it. I'm in the same shape. Haven't lost the job yet but unless Covid goes away tomorrow, and business comes back, it's coming

Re: Another lookback question.

Tomew2000 — Sun, 20 Dec 2020 02:29:05 GMT

When you say "in regards to income", I'm not 100% sure what you mean. I'm asking about the lookback on what you've spent, and where. Are we talking about the same thing?

Re: Another lookback question.

DebtStinks — Sun, 20 Dec 2020 22:27:31 GMT

No, we weren't. Sorry.

With regards to money spent, I was instructed 90 days...and it's mainly looking at credit cards, etc and what is purchased more than how much was spent. For example, you could buy $600 in groceries one week and they wouldn't bat an eye, however, purchase a $600 tv the same week and you MIGHT have an issue.

Re: Another lookback question.

Tomew2000 — Sun, 20 Dec 2020 22:32:10 GMT

Ok. That's what I thought. So, they go back on spending from the date you file? Or the date you stop paying the Credit cards? I'm in NJ, so I think it's 6 months. Where are you?

Re: Another lookback question.

DebtStinks — Sun, 20 Dec 2020 22:59:25 GMT

I don't think they look back on spending a whole 6 months...should be in that 90 day range preceding file date. If, however, you haven't used your cards in over 90 days, then they would only be looking at your checking/savings account transactions. If it helps, I had a cash advance a little over 90 days before file date used for bills, but I was prepared if the trustee asked. It wasn't even mentioned. I'm in Oklahoma.

I think the spending part is an area that gets scrutinized the least unless there are large abnormal purchases, trips, or cash advances, etc.

Re: Another lookback question.

Tomew2000 — Sun, 20 Dec 2020 23:20:32 GMT

Thanks! You've been really helpful.
Anyway, that's what I kind of understood. They're looking for you transferring money, or just wasting it.