Most people when they are looking for a way out of their financial situation have come to the end of their rope in regards to solutions. Bankruptcy appears to be their only option. On the rare occasion some individuals figure if they are going to have to go bankrupt anyway they might as well max out their credit cards and bus a few luxury items. This way they will still have something that they don’t have to pay for. This is a serious mistake.
These particular debts incurred just before filing for bankruptcy may not get discharged. In fact, included in this can be any luxury items that were purchased within the 90 days prior to filing. Then for cash advances this is applicable for 70 days prior to filing. This may not always be the case but in most circumstances it is.
It is assumed that you buy items on credit and yet you have no intention to pay for them, then in essence this is fraud. One of the bankruptcy rules is that debt created by fraud is not to be discharged. The creditor has to prove the intent was not to pay.
There are specific rules regarding luxury items and you need to discuss your purchases with your Cincinnati bankruptcy lawyer if the case is as such that you have made some recent purchases. The definition of luxury items are goods and services that you bought that were not necessary for your support or for support of your dependents.