Is this true?
Date: Wed, 01/07/2009 - 15:05
I, unfortunately, am filing for bankruptcy with Persels. One of my debts is to Cash Call (really nasty people). I received the loan in Feb. 2007 and made timely payments until October when I started having financial difficulties. Cash Call let me "refresh" my loan; if I made one payment, they would forgive the late payments and give me two months to make another payment. Unfortunately, I don't have the money and I decided to file for bankruptcy right after I made this agreement.
I spoke to a Cash Call representative there and was told that even if I file for bankruptcy, it would not be approved because the loan is still new and the bankruptcy wouldn't be allowed by the judge. They said this is because it looks like I took the loan knowing that I was going to file for bankruptcy, but that's just not true.
So, my question is: is there any accuracy to what I was told? I have a couple of fairly new debts...is there anything in the bankruptcy code that states an account has to be open a certain period of time before it can be discharged?
Thanks in advance.
I spoke to a Cash Call representative there and was told that even if I file for bankruptcy, it would not be approved because the loan is still new and the bankruptcy wouldn't be allowed by the judge. They said this is because it looks like I took the loan knowing that I was going to file for bankruptcy, but that's just not true.
So, my question is: is there any accuracy to what I was told? I have a couple of fairly new debts...is there anything in the bankruptcy code that states an account has to be open a certain period of time before it can be discharged?
Thanks in advance.
bankruptcy
we went to a lawyer a few months back and he said since we used our dept store credit card in july we would need to wait at least three months before filing because of the very reason you stated.
is this true
from what my lawyer told me, yes if you have recently used your credit cards then you need to wait at least three months before filing.
They are full for crap, you took the loan out in 07, you've had
They are full for crap, you took the loan out in 07, you've had it for 2 years. For BK there is only a 3 month rule on making/using credit before filing. You are fine.