Is there a time limit to wait after you have charged something, to declare bankruptcy?

Question

I recently had to charge a large amount of medical bills on my credit card because of unexpected expenses from a recent operation. I have medical insurance, but a high deductable and co-pay. I will never be able to pay the cards off with my income and contacting the card companies has gotten me nowhere. I haven't been late on the payments yet, but soon will be. Is there a waiting period between the last charge and declaring BK?

Answer 1

I dont know if there's a time limit or not (hopefully someone can answer that) but if you're not late on payments yet you should have salvageable credit and maybe you can look into other options-- a consolidation loan, maybe?

Or at the very least, call yoru credit cards and explain what you just did--- they DO NOT want to wait through bankrupcy to get a portion (they dont always get 100%) of what you owe. Ask them to cut the interest rates and let you do smaller payments...maybe they'll try and work with you soy ou dont have to declare BK.

Answer 2

Large amount of bills on cc?

I know American Express has to be paid off in full monthly, but what you are saying is you cannot make the minimum payment?

Declaring Bankruptcy is a pretty big deal (although recently it has become almost a fashion trend)

My first, best, and last suggestion would be to ask elsewhere - debt counselling etc and not on Yahoo.

Answer 3

I waited four to five months before filing for bankruptcy. That seemed to keep the credit card companies at bay (at least they stopped calling me).

I had $4,500 in Medical bills, but they weren't placed on credit cards. All my cards were maxed out long before filing for bankruptcy.

I had to deal with 15-20 calls from creditors asking for money. When I told them nicely that I had no money, they refused to leave me alone.

Answer 4

no,just ask my EX