The Danger of Luxury Expenses before Bankruptcy
When an individual is thinking about filing for bankruptcy, he or she may be tempted to make a large number of purchases with their credit card because they believe the debt will eventually get discharged. This is a very common bankruptcy myth that could cause a large amount of financial problems in the future. If the bankruptcy court believes a product was luxurious or purchased too close to the bankruptcy filing date, the applicant will be forced to pay for the product out of his or her own pocket.
To ensure you don’t fall for this or any other bankruptcy myth, you need to discuss your case with a qualified and skilled legal representative. For more information about what debts can and cannot be discharged, contact the Boston bankruptcy lawyers of Joshua Spirn & Associates today at 800-975-5346 and schedule a free consultation.
Types of Luxury Expenses
Luxury expenses on your credit card bills are typically not forgiven through bankruptcy. Luxury goods can refer to a number of items the bankruptcy court deems as lucrative or unnecessary. This can include any of the following:
- Unnecessary automobiles or other vehicles
- Food expenses from eating out
- Electronics such as televisions or computers that aren’t being used for your job or place of business
- Expensive or designer-label clothing
These are only a few examples of luxury expenses. Get in touch with an attorney today to make sure you understand how the bankruptcy process works in order to avoid making a mistake that could damage your claim.
Contact Us
Facing bankruptcy can be a difficult time in your life. However, you don’t have to go through it alone. Speak with a skilled and caring attorney about your options today. Contact the Boston bankruptcy lawyers of Joshua Spirn & Associates at 800-975-5346 to discuss the details of your case and learn more about your legal rights and options.
