Re: BK and using cards

Posted by KEN (66.91.144.122) on July 31, 2004 at 17:25:55:

In Reply to: BK and using cards posted by needing help on July 31, 2004 at 15:36:56:

Most likely the charges will not be discharged even if it's for necessities because you charged those things during a time you are insolvent. If you want to get those new charges discharged, you will need to prove that you had a reasonable belief that you were not insolvent and more than likely could have paid those charges off.

The arbitration can take a few months from the date of the first arbitration letter before a judgment is issued but you need to respond and present a defense to why you don't owe the money and deny that you made all the charges they are seeking to collect etc. Even when the arbitration judgment comes out, it would take over a month before a lawsuit is filed to collect on the judgment.

you probably have time to let the 4 months go by befoe filing bk.

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