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 still have credit can i use it

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T O P I C    R E V I E W
james1102 Posted - 28 September 2009 : 11:34:07
hi my question is we are currently not paying any of our debts but we do still have credit available , a couple of credit cards and catalogue , if we went bankrupt in six months say but we had been spending up till that time on our last available credit , would they view this as fraud or do people normally use up all their credit before they go bankrupt.



many thanks
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james1102 Posted - 28 September 2009 : 12:01:40
thanks for your quick reply paul , when i say bankruptcy in six months i am not planning this i am just trying to cover all of the Possibilities of what may happen , i am hoping to make more money than i have been and sort it out , but at the moment we still need things for our house kids beds, furniture etc so i will not be doing this on purpose but i know there is a chance it will happen.
Reviva UK Posted - 28 September 2009 : 11:42:42
Hi

that is not a good idea to continue to use credit knowing that you are looking to plan for bankruptcy in 6 months time.

The Official Receiver would certainly look at a bankruptcy restriction order and the credit card companies may well look at prosecuting you for fraud.


Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com

Real People ..... Real Debt Solutions
james1102 Posted - 28 September 2009 : 11:35:51
just to clarify when i said we are not paying any of our debts , i mean credit cards and loans everything else is being paid , and we are paying bits and pieces of them just not that regular and i can see things about to spiral out of control, still hoping to solve this thing.

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