The holiday season is generally the time that many people try to forget about their problems and enjoy the festivities. Individuals that are having money issues however, find it to be a distressing time. There are gifts to buy and if money is really tight they tend to resort to using their credit cards.

More often than not the credit cards end up getting maxed out and when the New Year arrives they are now faced with a massive amount of bills without the cash flow to be able to handle them. For those that are thinking of going bankrupt in the New Year how they use their credit cards prior to this is a important factor that is taken into account during the bankruptcy. Generally speaking the month of December shows the lowest stats for Indiana bankruptcy case filings but this certainly goes up dramatically once January and February arrives.

The problem is that with using your credit cards heavily prior to a bankruptcy may give indicators to the bankruptcy court that you are considering or constituting a fraud. Even though it is a most difficult time of year, ideally if you are in financial difficulty you really want to refrain from taking on any added expenses.

You may have to explain to your family that you will not be able to participate as heavily in the gift giving traditions that you normally would because of being in a tough financial situation. If you do decide that bankruptcy is your solution in the coming New Year then you really want to seek out the advice of a experienced bankruptcy attorney.