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Cash advances: Whether in the form of a payday loan or an advance on your credit card, cash advances must be more than 70 days old if they total 750 or more in order to be eligible for a bankruptcy discharge. Credit purchases: Additionally, if you make credit card purchases of luxury goods totally more than 500 to any one creditor within 90 days of filing for bankruptcy, there's a good chance the court will not discharge the debt. The reason these limits exist is to prevent the sort of fraudulent behavior that involves charging up a lot of non-essentials on a credit card or taking out a large cash advance that you don't intend to repay and filing for bankruptcy rather than repaying the debt.
Speak with a Bankruptcy Lawyer about Your Merchant cash advance business funding industry Advance Debt Today. Not sure whether your cash advance debts are eligible for discharge in the bankruptcy court. Then find out the specifics of your case by taking this opportunity to speak directly with a bankruptcy attorney practicing in your area.
Laws may have changed since our last update. This is for informational purposes and is not legal advice. Speak to a local bankruptcy attorney for legal advice about your particular situation. Canadian online payday loans no faxing.