Legal Question in Bankruptcy in California

will bankruptcy help me?

if i recently applied for several credit cards and was approved,then started to spend a big amount on it, can i get into trouble for it if i file for bankruptcy??what happens if i just got the creditcard the first month and max it out, and cant pay??can i go to jail?? or should i pay the first month or so and wait for it to be at least 60 days then file for bankruptcy. pls. help me thx....


Asked on 6/05/01, 6:43 pm

1 Answer from Attorneys
Mark Markus Law Office of Mark J. Markus

Re: will bankruptcy help me?

Waiting 60 days isn't going to change whether you had the intent or reasonable expectation to pay the debt when you incurred it. Those are the criteria for nondischargeability such as you describe. If you ran up the charges all in one month, you should make payments on it for as long as possible....I would say at least a year, and then you may be in a position to go through a Ch. 7 without incident, or possibly a Ch. 13. There haven't been debtor's prisons since the early 1700s, I believe.

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Answered on 6/27/01, 12:36 pm


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