I have been quite busy the last few weeks and consequently have been neglecting my responsibilities to our readers. For that I apologize. Christmas is quickly approaching, and this time of year people tend to put off the consideration of Bankruptcy. I can understand why people dont choose to file in December particularly the end of December but I do caution those readers who are going to be filing in the next few months.
It is immoral and also a violation of the bankruptcy code itself to charge Christmas presents with the intent to file in the future. Many attorneys will say some thing like "you just have to wait 90 days," but this isnt entirely accurate. It is true that the look-back period is 90 days for non-insider transactions like credit card charges however there are exceptions. More importantly if you dont intend to pay the money back at the time you charge it you are committing fraud and that is non-dischargeable and quite frankly morally bankrupt.
So celebrate the holidays, shop all you want but keep in mind the best course of action is to only buy stuff you can afford. (This is true whether you plan to file or not).
Merry Christmas and Happy New Year.
And if you are shopping or just feel like supporting this site you might consider buying one of these fine books from Amazon.com.
