If a chapter 7 bankruptcy is likely in your future, you may want to learn a bit about what not to do just before you file. Your financial situation, including your spending, may be subject to a certain "look back" period by the bankruptcy trustee. Read on and learn how to avoid getting yourself into trouble by violating the bankruptcy codes.
1. Don't go wild with your credit cards once you decide to file for a chapter 7 bankruptcy.
While a chapter 7 bankruptcy is an amazing tool in your efforts to move forward with a fresh financial beginning, you should be aware of some types of debts that require special attention. As you may know, credit card debt is one of the largest debts most consumers own, and the beauty of chapter 7 is the opportunity to say "so long" to all of that. Read on to learn about a few types of debts that may only be discharged under certain circumstances and which ones you'll need to deal with outside of bankruptcy.