When you file for Bankruptcy, what do you do if you want to keep some credit cards?  Hide them from your attorney?  NO!  Such “Bankruptcy Fraud” is not worth 5 years in jail and/or 1/2 million dollar fine!  Instead, it depends.  
If you liked that post, then try these…When Do I Know Its Right To [...]

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On May 2, 2008, the Federal Reserve released a series of proposed rules that would restrict current practices of the credit card industry. Specifically:

Banks would be prohibited from increasing the rate on a pre-existing credit card balance (except under limited circumstances) and must allow the consumer to pay off that balance over a reasonable [...]

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Most, if not all, of my clients tell me they don’t ever want another credit card. I just laugh and tell them they will want one in a few months because that is what society has taught us. Besides you need one to rent a car, make hotel reservations, and the like. [...]

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Debts tinged with dishonesty are part of a small group of claims where the creditor has to take action in the bankruptcy to avoid their discharge. Most debts that are non dischargeable in a bankruptcy case are so just because of the nature of the debt: recent taxes, family support, drunk driving judgments.
A [...]

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Seems obvious, yes?  Not to everyone.  Use of a charge card without the intent to repay is fraud, whether charging a purchase, or making a cash advance, or using a convenience check.
If the bankruptcy need is immediate, ask your attorney about a Chapter 13 filing with an affordable retainer and monthly payments.  You avoid fraud.  You avoid [...]

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As the Fed has pumped up the money supply, prices are inevitably rising.
Gas, now food, increasing first.
With mortgage-home equity borrowing having dried up, it seems people are using credit card debt to make up the difference.
This is not a good strategy. You cannot borrow your way out of a [...]

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Can I take out credit cards during my Chapter 13 Bankruptcy? Short answer, you may not take out any lines of credit either through credit cards or loan applications during your Chapter 13 Bankruptcy. You might think that you will have no opportunities to ever have a credit card again after filing bankruptcy [...]

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Many people file for bankruptcy to discharge credit cards and other loans they took to buy a few things “on time” that have snowballed to a point that it can no longer be paid off. Buying on time is something that hurts consumers in the long run. It traps them until [...]

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I make about $46,000 a year in gross annual income and I believe I qualify for Chapter 7 Bankruptcy, but what happens if I have $80,000 in credit card debt? Is that just erased under Chapter 7, assuming I qualify for Chapter 7? Does the bank try to get back some of that debt if [...]

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I received a call from a potential client. At first glance this case seemed viable. As our discussion progressed, the red flags started to arise. I am going to set out the facts below. Can you spot the potential issues with this case scenario?
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