# judges attitudes towards recently maxed out credit card?



## petey (26 Jun 2013)

Hello,
virgin poster here, but I've lurked around for a couple of  days: sincere thanks to all the informative posters for empowering the  rest of us.  

Short of laying out all my circumstances, I hope the following will suffice for my query:
I  will likely be going bankrupt in the uk within a year. Having read a  lot of posts on this site I am confident enough to say that my  bankruptcy should go through without any hitches. 
My joint mortgage  has recently been deemed unsustainable by  the bank (I have the letter of unsustainability). I've been unemployed  for a few years and am living on welfare with no savings. In about  6months time I should have an earning potential of around 25k p.a.,  having finished a training program by then.  The NE on the property is  about 150k.  I owe 2k on my c.card and its limit is 4.5k.  I have no  assets.

Myself and my ex-partner (joint mortgage holder) are in  pretty much the same situation except we are now split up. My ex has a  similar earning potential (although is also currently unemployed and  seeking work) and is also considering bankruptcy.  While our split was  amicable, we desperately would like to not have to live together, but  currently it's the only realistic option as neither of us can afford to  move out.  We don't have any children (phew).

My question is  this:  If I max-out my credit card before travelling (obviously to help  fund the bankruptcy process - quite likely to pay the good Mr.  Thatcher!), might the Judge regard this as disingenuous even though I  mightn't have had much else to fund going bankrupt?
OR.. 
should I  stay here after finishing my training program in the hope I'll get a  job here for a few months, so I can then afford to go bankrupt?

So basically, should I avoid maxing out the c.card at all costs because the Judge will regard it as disingenuous?
i.e.  what if I were to save, say 2.5k from a new job here (if I could), and  then take the other 2.5k from the credit card and then head off to the  uk with my 5k bankruptcy pot?


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## Steve Thatcher (1 Jul 2013)

Hello Petey

please do not max out the credit card. Once you decide to go bankrupt you should not be incurring any further credit. This is looked on adversely by the Official Receiver. He can take the view that you have been partially culpable in your bankruptcy. if os he can ask that you serve further time in bankryuptcy. That is what you dont want.

Hope this helps

Steve Thatcher
www.irishbankrupt.ie


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## petey (1 Jul 2013)

Thanks a lot Steve.
I certainly don't want that.

That's  unfortunate.  Even if the last payment on my credit card was actually a  portion of your fee (which I'm inclined to think is worth it for peace  of mind and expediency), this payment would obviously qualify as  incurring further credit after deciding to go bankrupt, and I'm guessing  the Official Receiver would say I needn't have employed a solicitor!  
I  was hoping I could avoid going to my family with my cap in hand but the only alternatives are to find a job  (here or in the uk) and save up enough money, or go it alone without a  solicitor, and everyone seems to agree that's not a good idea. 

Jayses, the price of a decent bankruptcy these days, ha?


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