Q: Is purchasing a mattress a month ago going to hinder my ability to file for chapter 7 bankruptcy?

A: The answer really goes to intent. Did you plan to file bankruptcy when you purchased the mattress? Had you spoken to counsel prior to purchasing it? Did you make a good faith effort to pay for it? Also the cost of the mattress is important - a $5000 mattress going to cause more issues than one for $500. If you're really worried about it, wait at least 90 days prior to filing. While the trustee or creditor could object to discharge, I really don't see those that often. Either way, it's important to speak to an attorney on these matters with more specifics to determine if it's a mountain or a mole hill. I'm guessing the latter!

A: I am assuming the mattress is not a luxury item as they are not usually seen as splurging money. (especially when your previous one caught on fire). It is something that is needed in your daily life, like electricity and internet access. That being said, if you took out a loan to purchase the mattress, you may have to explain why you took out a loan so close to the date of the bankruptcy (if less than 90 days) and whether you plan on continuing to make payments.

The previous answer is apt, and addresses these issues, among others, with the types of questions that would be asked.

A: Filing for Chapter 7 bankruptcy after making a recent purchase on credit, like a mattress, can raise concerns, but it does not automatically prevent you from filing. The court will look closely at your recent financial activity, especially any new debts incurred just before filing. They want to ensure that purchases weren't made with the intention of discharging the debt soon after.

If the mattress purchase was necessary, such as replacing one that caught fire, and you genuinely intended to pay for it, you might have a reasonable explanation. It helps to be honest and provide documentation showing why the purchase was essential and not a luxury or unnecessary item.

You should be prepared to explain this to the court or trustee, as they may ask about recent transactions. As long as you are transparent and demonstrate that you were not trying to abuse the bankruptcy system, this purchase alone is unlikely to stop you from filing for Chapter 7. However, keeping your overall financial situation in mind and taking thoughtful steps is important as you proceed.