UPDATED: Jun 10, 2009
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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
J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney
Answered 13 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.
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