Past expenses

December 29th, 2009 by Questions

I am looking to go bankrupt in the coming month.. I lost my job in November and have been living off my savings (which are almost wiped out) and credit cards… I purchased a laptop in September 2009 on credit. I just sold it last month to make my car payments and keep it up to date. How would this show/affect my bankruptcy?? Would the credit card company appeal against it and if so what are my options? My credit card balance has significantly increased in the past few months as i have not been able to keep up with my debt payments.. please advice

Posted from: Ontario


One Response to “Past expenses”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

As long as most of the charges on your accounts are associated with living costs then you shouldn’t have to many difficulties. Technically it is always possible for a creditor to oppose a discharge, but practically it is typically only done when there are excessive amounts relating to non-essential items.

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