Debts Incurred for Luxury Purchases
KANIA LAW OFFICE is a Tulsa, Oklahoma Bankruptcy Law Firm
We help Oklahoma residents file for bankruptcy under the U.S. Bankruptcy laws.

Luxury Goods and Services

Debts incurred for the purchase of luxury goods or services, may not be dischargeable in your Oklahoma bankruptcy case.  Although the bankruptcy code does not specifically define the term "luxury good or service," the code does provide that it does not include goods or services reasonably necessary for the support or maintenance of the filer and his or her dependants.  Actual determinations regarding whether debts have been incurred for the purchase for luxury good and services will depend on the individual facts and circumstances, reviewed on a case by case basis.

With the advent of the bankruptcy reform act of 2005, the allowing amount of debts incurred for the purchase of luxury goods and services has decreased. Prior to the 2005 Act, the limitation was $1,225.00 within sixty (60) days of the bankruptcy petition being filed.  Under the new code, the limitation is $500.00 within ninety (90) days of the bankruptcy petition. This means that if a person filing for bankruptcy incurred debt of $500.00 or more for the purchase of goods and services determined to be luxuries, those debts will not be dischargeable in the bankruptcy and must be paid back to the particular creditor in full.

Free Bankruptcy Evaluation

The Kania Law Office and its Tulsa, Oklahoma Bankruptcy Lawyers offer free bankruptcy evaluations via telephone to any resident of the State of Oklahoma.  If you would like to see if you qualify for a Chapter 7 or have a question about which debts are dischargeable, call (918) 743-2233 and ask for your free bankruptcy consultation.  Or, you can fill out this form to send an email to one of the Kania Law Office's attorneys.

KANIA LAW OFFICE: Tulsa Lawyers 
The Kania Law Office's Tulsa Bankruptcy Lawyers represent Oklahomans with debt problems, helping them to navigate through the Federal Bankruptcy Codes and stop collection calls, foreclosures, and judgments, while protecting their assets.  If you would like a free consultation with a Tulsa, Oklahoma bankruptcy attorney from the Kania Law Office please call (918) 743-2233 or fill out this form. 

We are an Oklahoma debt relief agency. We help people file for relief under the Bankruptcy Code.