Hi and thank you for your question. In the future, you can request me to answer any further questions.
In a chapter 7, and all bankruptcy cases for that matter, you would list down all debts you owe.
Creditors can object for recent usage over $500 in the 3 months before the case. If you have been making regular payments on them, that would lessen the likelihood of objections though.
If you have made a few large purchases recently, your attorney may often recommend making small payments then filing after 90 days.
Creditors do look to see if the usage can be objected to, and they usually only will if done just prior to the filing, or if it was a huge amount with no subsequent payments.
Thanks for your question, good luck.
Thank you for your answer. Is that the same for the state of Georgia?
Also how will a chapter 7 effect my credit and the ability to get a credit card or a mortgage in the future and for how long before I can get those loans.
That goes for every state
CHapter 7 stays on your credit for 10 years that you filed.
You should be able to start getting new credit in the months after the case.
Generally, credit cards and car loans the first month after, real estate within a year or two (depending on the lender).
there are no hard and fast rules, it varies by creditor, so shop arround.
I have another question. I was recently married.
I have heard that when you have past debts neither spouse is responsible for the other spouse's past debts.
Is that true ? And if one of you files Chapter 7 will the credit rating of the other spouse be jointly affected?
Also, can a credit card company come after your spouse to get their assets etc?
Should all of the assets be kept seperate by each spouse?
My concern is wanting to keep one of the spouses credit rating good even of the other's is not good or chapter 7 is filed.
Please advise. Thanks
But will the spouse's credit score not in debt ... be affected because the other spouse filed Chapter 7 on the debt they previously signed for?
In other words can the spouse not filing for chapter 7 on previous debt, still get a mortgage or another credit card and not have their credit rating affected as an seperate individual?
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).