Question: If someone knows they are heading for bankruptcy what is to stop them withdrawing as much as possible in cash from credit cards prior to being declared bankrupt?
Answer: There may be nothing stopping them except the fact that if they do this and go bankrupt, the Official Receiver in their bankruptcy may view this as a misuse of credit and issue a restriction order keeping them in bankruptcy longer than the usual 12 months; it can be up to 15 years.
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