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     What Everyone MUST Know Before Filing Bankruptcy
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Chapter 7 Bankruptcy

THE 90-DAY CREDIT RULE

    If you plan to file bankruptcy, use an expert Orange County Bankruptcy Attorney and please be aware that you must NOT use your credit cards for at least 90 days before the date your petition is filed.  If you do, the Bankruptcy Trustee and the Court may look upon any charges made during that 90 days as an fraudulent and will likely not discharge (wipe out) those debts in your bankruptcy.
    There are some minor exceptions, however.  If you use a credit card for small "necessities of life" such as food, necessary clothing, gasoline, and similar items, and the amounts charged are relatively minor, it is unlikely that the court will require you to pay for such charges.
    While there are no hard and fast rules, keep in mind that an experienced bankruptcy attorney in Orange County will advise you that it would be wise to charge only those expenses which are absolutely necessary for your family's survival and, even then, keep the amounts as small as possible.

The 90-Day Preferential Treatment of Creditors Rule
    There is another rule that Orange County bankruptcy lawyers know and that you need to be aware of, also, and that is you must treat all of your creditors equally.  That is, you will not be permitted to pay one credit card company $500 and others nothing merely because you were hoping to protect one creditor from suffering a loss because you're hoping to keep that creditor's card after filing bankruptcy with a bankruptcy lawyer in Orange County.
    If you pay any creditor $600 or more over and above the amount you would normally have paid it, the excess amount could be recaptured by the Trustee and redistributed to the remaining creditors.
    This doesn't happen often, but it does occur, so keep it in mind when you're trying to wind your way through the though process that goes into filing bankruptcy. This is why using our experienced Orange County bankruptcy attorneys is the best thing you can do for your future.

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