How does drug addiction affect bankruptcy?
September 12th, 2011 by Questions
A lot of my debt is from cash advances during a rough time in my life, drug addiction, I am clean now and I am looking into bankruptcy due to over $70000 in unsecured debt (not all of the debt is because of drugs). Do I have to disclose that I had a drug problem and how will this affect bankruptcy? And how will the cash advances from a credit card and cash withdrawals from a line of credit affect bankruptcy?
Posted from: British Columbia
One Response to “How does drug addiction affect bankruptcy?”
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)
You must be logged in to post a comment.
September 12, 2011 at 8:40 pm, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
The drug addiction will have to be identified as one of the causes of having to file for bankruptcy. but as long as you are up front, have sought help for your addiction and this is part of your road to full recovery, then most times the addicition won’t have much of an impact on how the bankruptcy progresses. Now this only holds true if you are continuing to make and effort to beat the addiction, if you relapse, and stop making an effort then the addiction may be considered when it comes time for a discharge.