Bankrupty and Holiday Credit Card Spending

If you are considering filing for bankruptcy protection, here are some considerations to think about before you use your credit cards to fund your holiday spending.

Credit card charges made before filing for bankruptcy protection may raise a presumption of fraud. Your creditors may object to the discharge of those credit card charges. If a creditor does successfully object, those charges will survive your bankruptcy discharge and you will be responsible for that debt.

Any cash advances or use of credit card convenience checks made before filing for bankruptcy protection may also raise a presumption of fraud. Your creditor(s) also have the right to object to the discharge of these types of debt.

The lesson here is if you are planning to file for protection under the U.S. Bankruptcy Code, stop using your credit cards now. If you are suddenly facing the prospect of bankruptcy, and have made recent credit card charges or cash advances, all hope is not lost. It just means you need to develop a strategy with an experienced bankruptcy attorney.

Schedule a free consultation today to develop a strategy to deal with these types of scenarios. (404) 680-7010

Van Wieren Law Firm, LLC - Atlanta Bankruptcy
www.metroatlantabankruptcy.com