No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I have a newer CC (Discover) that I got just before the pandemic. It has an $ 800 bal out of a 4K credit line. I paid some bills on it during the shut-down. If I file CH7 this summer will this be considered fraudulent use since the card is fairly new?
What is considered "new credit" for BRY purposes?
My other accounts are older, I am not worried about them.
I'm sure they're taking the pandemic into account.
I hope so. But I would hate to have my case thrown over $ 800.00 (my BRY would discharge 30K in unsecured debt. I am low-income and would qualify).
Its over $600 for luxury items or paying one creditor over all others then filing. For normal everyday living expenses to survive. Its ignored. But they will see the spending on your statements when you turn them in.
I did put quite a few pet supply charges on it (food, litter). I am not sure if these are "luxury" since it is not people food, but nowhere near $600.00.
@Anonymous wrote:I did put quite a few pet supply charges on it (food, litter). I am not sure if these are "luxury" since it is not people food, but nowhere near $600.00.
expenses for your animals to live shouldn't be an issue, it is not a luxury item to feed them.
This is just my experience only and not meant for legal advise..
The petition I filed with my attorney lists all my accounts. It specificaly asked to also list all creditors that I have paid over $600 to in the past 90 days leading up to filing and any cash advances within 70 days.
My understanding is that the Trustee can legally go after payments made to creditors in excess of $600 in the 90 days leading up to filing.
I did not and was never asked to produce credit card statements in my case as of yet. Your creditors have the 60day period after you MOC to dispute forgiving your debt. I would suspect that if fraud is suspected the Trustee would ask to see statements and creditor may raise objection in your case. As others have said basic living expenses seem to be ok but not sure in your area.
This is only my experience others may have had a trustee that looks at everything..
Its mainly for people who go and buy a bunch of nice stuff knowing they are going to file BK and take advantage of it. Thats a no no.
I'm not worried about fraudulent charges since I didn't buy anything "bad", I am just worry because of how new the account is.