33 Things Not to Do When You Are About to File for Bankruptcy, #4

Posted by on Sep 1, 2014 in Uncategorized | 0 comments

33 Things Not to Do When You Are About to File for Bankruptcy, #4

Don’t take credit card cash advances. Yes, you’re planning to use them for living expenses (power, rent, food, gas, whatever you need), but do NOT do this. If you take out cash advances within a few months of filing for bankruptcy, those cash advances can be seen as fraud (you took them without ever intending to repay) and the credit card company can ask that those advances not be discharged in your bankruptcy. If you go to the ATM to take money from a credit card, think twice before you press the “OK” button. Even if you plan to pay it back, the interest rate on cash advances is usually much higher than your normal credit card interest rate.

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