maxing credit cards prior to bankruptcy
July 21st, 2009 by Questions
What happens if I max my credit cards right before bankruptcy ??
Posted from: Ontario
One Response to “maxing credit cards prior to bankruptcy”
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July 22, 2009 at 12:11 pm, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
You will have committed fraud and an offense under the Bankruptcy and Insolvency Act. As a result your debts will not be released by the filing of a bankruptcy and you will not be eligible for discharge.
Any time you are involved in trying to maximize your benefit to the detriment of your creditors this causes serious problems, so you are best to not do it, leave things how they are, and go talk to a local trustee so you can resolve things.