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james1102
Starting Member
United Kingdom
18 Posts |
 Posted - 28 September 2009 : 11:34:07
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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
Starting Member
United Kingdom
18 Posts |
Posted - 28 September 2009 : 11:35:51
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| 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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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 28 September 2009 : 11:42:42
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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 |
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james1102
Starting Member
United Kingdom
18 Posts |
Posted - 28 September 2009 : 12:01:40
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| 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. |
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still have credit can i use it
