Credit Card Debt
San Diego, California, Bankruptcy Law Firm
One of the most common reasons for filing bankruptcy is to eliminate credit card debt. Fortunately, for most bankruptcy filers, credit card debt is one of the easiest debts to get rid of. Most people are aware that a few years ago the bankruptcy laws changed however, there is a lot of misinformation floating around about the new bankruptcy laws. One of the misconceptions is that credit card debt can not longer be discharged, this is in fact false. For Chapter 7 bankruptcy filers, credit card debt may still be completely wiped away and you will now owe those creditors any more money. For Chapter 13 filers, credit card debt is treated as unsecured debt, which means that you will only have to pay back a certain percentage of that debt, the percentage is dependent upon your repayment plan. Don't forget that filing bankruptcy will also stop foreclosure on your home. If you have any additional questions about how credit card debt will be treated in bankruptcy, call us up and set up a free consultation to ask all of your questions.
Free Bankruptcy Consultation, Call 858-240-2566 and set up a consultation with Jeffery R. Menard to discuss your individual options.