Expert: Terry Leeders - 5/14/2008

Question
If I qualify for chapter 7 and since 3/3/08 I've incurred $1,800 of credit card usage, how does that affect the whole situation? Actually, on 3/3 $400, on 3/7 $400, on 4/25 $500, on 4/30 $326, on 5/6 $145. Thanks

Answer
Creditors can object for recent usage within 60 days of the filing. Also recent cash advances or purchases of luxury items can be determined to be nondischargeable as well. Speak with your lawyer to advise you on the best date to file your chapter 7 to avoid these issues from becoming problems.