I thought this was interesting. On my 1st meeting with a potential lawyer, he said that you can actually use your credit cards up to around 500 within the 90 days before filing for your Chapter 7. Of course, it has to be for "living" expenses, not luxury type expenses (expensive items or eating out at expensive restaurants). I know many that actual stop using the CCs altogether so there are no issues when it comes time to filing. I thought the limit was $500 "total" across all credit cards but apparently it's per account (lawyer's claim). This somewhat surprised me.
Does anyone else have any info on this? I'm really debating on actually waiting a full 90 days without any credit card charges so there's no issue before the actual filing. What do you guys think?
By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.