Can I use credit during my Chapter 13 Bankruptcy ?

Posted on July 18, 2013. Filed under: Chapter 13 Bankruptcy, Consumer Alerts, Consumer Bankruptcy Attorney | Tags: , , , , |

Your Order Confirming Plan, signed by the Bankruptcy Judge, states that you may not incur any credit obligations during the life of the plan without the Trustee’s written consent. The
only exceptions to act without the Trustee’s written consent would be a serious emergency or, if you have a business you have told the Trustee about, ordinary expenses for that business. Any other credit obligations could jeopardize your plan and failure to get
permission could result in your plan being dismissed.

The usual case in which new credit obligations are incurred is for purchase of a car. Any requests for credit must be justified and approved by the Court before you obligate yourself in any way. Be sure to contact your attorney if you think you absolutely must buy a car or trade in your old one. Do not let a car dealer talk you into anything before your lawyer has had a chance to get involved.

John Rogers, Kentucky Bankruptcy Attorney Call 1-888-651-9353

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2 Responses to “Can I use credit during my Chapter 13 Bankruptcy ?”

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