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maxing credit cards prior to bankruptcy

What happens if I max my credit cards right before bankruptcy ??

thanks !

Posted from: Ontario

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One Response to “maxing credit cards prior to bankruptcy”

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.