3 month wait ??
Is it true that you should wait 3 months after your last credit card transaction before filing for bankruptcy? What if you need to use your card for basic necessities like groceries?
Q&A: Answers to Questions
Most Recent ‘Q&A’ Posts
Life Insurance
Can I still pay payment to my Life Insurance that I purchased 20 years ago if I apply for bankruptcy? Can I still own a life insurance policy?
Payment before filing = preferential payment ?
I have 2 credit cards and the rest of my debts are on lines of credit and loans. It is worth paying off my cc debt before filing or will this be perceived as a preferential payment? I made a few small purchases with my cards and I am worried this could possibly have an […]
How do I pay?
I need to declare bankruptcy on some business debts. But if my business has been closed, I am unable to work due to health problems and I have no other source of income – where am I supposed to get the money to pay the Licensed Insolvency Trustee their fee, and any equity the trustee […]
Credit cards
Great blog; thanks for all the good advice. I understand that all credit cards must be given to the trustee when filing for bankruptcy. However, are you allowed to have a credit card if you are not the primary account holder i.e. supplementary card?
Seriously thinking of bankruptcy
On a previous post someone asked about bankruptcy and you mentioned that the bankruptcy period is 9 months. Could you please explain this is more detail. Does this mean I would have monthly payments on this for 9 months only, or would I have to make monthly payments for 7 years? Also, could my wages […]
extra payments not here yet
what if I have furniture on one depatment store and it’s don’t pay for a year and the year isn’t up yet.With all other cards,cannot make the payments and go bankrupt,what about the furniture ?
what do I do
My sole properitorship business is failing, I am in serious debt and do not have the ability to pay off my business loans and expenses. All my credit cards are maxed out and I am missing payments, and all my creditors are demanding full payment, I have no other source of income and don’t know […]
Just getting by
Is it common at all for people to claim personal bankruptcy if they have not yet fallen behind on their bills but can barley get by with all the money that is going out ? Also,if you have a leased car is that allowed to be kept and do you have to give up your […]
Do creditors or collectors need to inform me of legal action?
I have fallen behind on all of my credit card bills and am considering bankruptcy. Collectors call and so far they have not communicated that they are going to take legal action to collect the debt. I was wondering how collectors/creditors are required to inform me if they are going to take the matter to […]