Expert: Mark J. Markus- California Bankruptcy Attorney - 1/5/2005

Question
I have recently become overwhelmed w/ my monthly debt, namely due to large balance credit card debt totaling approx. $25k. I believe Chapter 7 B/K would sincerely help for a fresh start that I plan to take full advantage of.

My question is: I just purchased a home within the last 2 months. Will this hinder me from filing and/or having my credit card debt discharged? I do not plan to include the mortgage. My thinking is the B/K court may find it out of line that I made such a recent large purchase in my house and won't allow the B/K.

what do you think?

Answer
There is no reason why you can't file a chapter 7 case after having just purchased a home.  The issue with dischargeability of credit cards has to do with your intent to repay them at the time the debts were incurred on them.  You need to have a comprehensive consultation with a bankruptcy attorney in order to assess the viability of any bankruptcy case.   Also, you must "include" all assets and all debts in any bankruptcy case.