Legal Question in Bankruptcy in California
New Purchases on Secured Credit Cards
My mother is filing bankruptcy in a few weeks and I need to purchase a new computer, as soon as possible. If we have a gateway credit card, which is a secured credit card, and are continuing to pay it, can we make the purchase of a needed computer on it?
How long to we have to do so, before or after the bankruptcy?
Thank you.
2 Answers from Attorneys
Re: New Purchases on Secured Credit Cards
You should not make any purchases that you cannot or will not pay off this close to filing. I assumr that your mother will give you the computer- but she will need to be prepared to pay it as agreed or give it back to Gateway. The more time between the purchase and the filig the better, althoug any purchase made without the itnent to repay is a problem.
Re: New Purchases on Secured Credit Cards
Yes you can, but obviously the debt will need to be repaid, or they can repossess the computer.
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