backruptcy

Get Legal Help Today

 Secured with SHA-256 Encryption

backruptcy

If I have enough credit limit on my credit cards, could I pay off my house and then a few months later file bankruptcy on the credit cards?

Asked on June 10, 2009 under Bankruptcy Law, Florida

Answers:

J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

You can certainly pay off the house and then file BK.  However, the BK rules have changed and you may not qualify depending on how much your income is and the equity in your house.  I suggest that you speak to a lawyer about your plan in detail and provide him with this information so that you are making an intelligent decision.  I do not have enough info to give you  a definitive answer.  You do not want to get yourself into trouble either.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption