Whether you are debating between a Debt settlement and bankruptcy filing or have decided to file bankruptcy but are worried about the effects it might have on your credit, you are bound to have many questions.
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Maxing out your credit cards or making large purchases before filing bankruptcy is generally
considered a bad idea. Similarly, cash advances in large amounts or balance transfers may be subject to scrutiny.
While it is true that the bankruptcy law protects individual debtors, it is not a blanket protection.
When you try to beat the system, a creditor might bring a “non-dischargeability” action in court. And if a judge finds that based on circumstantial evidence, the debtor had no intent to repay at the time of incurring the debt, it may not be discharged.
If you are considering filing bankruptcy and you are concernd about a recent purchase or transaction,
you should seek advice from an attorney specializing in bankruptcy law.
The information contained on this site is for general education only and it is not, nor is it meant to be, legal advice. You should seek advice from a bankruptcy attorney for your specific situation.