Balance Transfers, New Lines Of Credit - Still Viable? Timing?
My question this time is about moving credit around. In the process of (mis-)managing my debts, I've moved credit around through the past 5 years to try and get the best interest rates. Well, as of May of this year I opened two new credit cards with zero interest in the amounts $8000 and $6000... I've made payments ever since but am strongly considering bankruptcy. Will this likely be a problem? How long should I wait after transferring balances before filing to be safe? I never intended on bankruptcy and wasn't doing anything wrong at the time, just getting the best rates (which should indicate that I did NOT want to go bankrupt) but is this likely to be a problem? And in general... are bankruptcies often denied on this basis? What happens to my debts if it is denied, am I supposed to catch up 4 months of payments?
Normally, you will want to wait at least 90 days after the last use of the account. Timing can be important here, and I would suggest that you discuss this matter with your attorney.
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