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Credit card use… 3 months or 3 statements?

Hi… this is probably one of those hard to answer questions but… I’ve read in several posts that when you declare bankruptcy, you’re credit card use for the last 3 months is looked at for any ‘bad faith’ activity… and that it can go up to a year or more if fraud is suspected…

what my question really is, is this, will the credit card company supply the trustee with records of the last 90days or the last 3 statements?

I know there is no point trying to hide any fradulent purchases, and I haven’t made any, it’s just I want to be prepared as to what I can expect to have to pay back for groceries/gas/cash advances for bill payment (often to the same card I took it from) that I can expect to be billed to pay as part of my discharge…

just a ballpark idea of 3 months or 3 statements is good for an answer

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One Response to “Credit card use… 3 months or 3 statements?”

A licensed trustee said...

Generally speaking 3 stmts cover 3 months so your really talking about the same thing.

I have a question for you: if you are “living off credit” before yo file and you are going to lose access to that credit as soon as you file, how are you going to live without it? To put it another way, if you take a cash advance to pay the rent and your credit card is taken away from you, how will you pay next month’s rent?

Bankruptcy is designed to solve your problem(s) with existing debt – it can’t help you pay the rent or make ends meet. If you file bankruptcy without a clear plan in place as to how you will live after you file you might just make things worse instead of better…

Be careful and make certain you can live within your income if you are going to file.