Christmas Spending on Credit Cards

“But, honey, I just want the kids to have this one last really bid Christmas … after we file for Bankruptcy, nothing will be the same.”

Over three decades, I cannot say how many times people have reported this conversation to me.  It is fraught with mistaken understanding.

One “really big: Christmas will not make your family happier.  Period. It will just increase your stress level.

This will NOT be the last Christmas you share.  Bankruptcy will actually help you have better, less stressful, more rewarding Christmas holidays in the future.

Using credit when you have already decided you are insolvent, or need Bankruptcy, is fraud.  Even if you stay below the per se limit on luxury purchases within 90 days prior filing bankruptcy, it is still actually fraud to use a credit card that you never intend to pay.  This will not make your new year happier.

The only thing that changes in the vast majority of consumer bankruptcy cases is that you no longer have debt and no longer worry about paying bills.

This Christmas, only buy what you can afford to pay for.  Hug the kids, play with them, be a family. The rewards will come to your heart, not your ego.

This article is written by an attorney at Attorney Donald Wyatt PC. Always consult an attorney before making any legal decisions. To make an appointment today for a free consultation, please click here to contact us.


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