Q: How long do you have to wait until applying for bankruptcy, when you bought some stuff.

A: You should wait at least 90 days for big purchases, if normal everyday things 30 days

A: Something that is important to consider, which you don't mention, is what it is that you bought and how you bought it. If you bought items of personal property, and still own that property, then you need to be concerned over whether or not you can keep the property through a bankruptcy (Ch. 7) filing. Some property is "exempt," meaning that you get to keep it through your bankruptcy. Other property is not, and the bankruptcy trustee may well take the property and sell it to get money to pay creditors. If you bought your "stuff" using credit cards, one important issue is whether or not you were already insolvent when you charged the purchase. If you were, then more and more credit card companies are arguing in bankruptcy that such charges were "fraudulent" because you knew you were insolvent when you made the purchase and therefore never had any intent to pay the credit card bill for the purchase.

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