Legal Question in Bankruptcy in Texas

Credit Card Purchases

You have several problems and some solutions . The long and short of it is that the credit card companies can objct to recent purchases. In addition, some cards like Sears, Pennies, etc will claim the purchases were secured.If you want to file Chapter 7 you have a few options, wait 90 days from the last purchase, file and negotiate or file and reaffirm. If you file chapter 13, the answers are even broader as the plan gives you more flexability. Please let me know where you live and I can try and tell you what the attitude of the creditors and trustees are in your area.

Credit card debts in bankruptcy

1. Cut up all the credit cards.2. Make minimum payments on all credit card bills for at least 6 months.3. Do not file for bankruptcy protection until it has been at least 6 months since you last used any credit card or some creditor has sued you.

Keep in mind that some credit card agreements provide that the seller retains a security interest in the item sold if purchased with the seller's card (e.g., a computer from Sears bought on a Sears card).

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