Bankruptcy Lawyer

Credit Card Debt Bankruptcy

Why credit card debt bankruptcy is easy

OR SIMPLY ASK FOR HELP ONLINE:





Fast Credit Card Debt Bankruptcy Options

Chapter 7 is fast, Chapter 13 is easy, and Chapter 11 offers expansive options. The best of all worlds however is not available for all people in all cases. Credit card debt bankruptcy is one of the easiest to file and prove in court. This ease is due primarily because these debts are considered general unsecured claims and are assigned the lowest priority for repayment. In Chapter 7 cases, general unsecured claims are commonly eliminated completely in four months, from the date of initial filing, to final discharge. In Chapter 13 cases, repayment plans frequently provide no more than 10% payment during the plan, and eventual discharge of all remaining balances at the end of the plan. Both Chapter 7 and Chapter 13 are available for nominal attorney fees.

Problems discharging credit card debt

If you notice, virtually all credit card applications include a question about income earned. Oddly, card applications rarely require proof of income, but instead, rely upon only the truthfulness of the applicant. In practice, this question snares many applicants when filing Chapter 7, because an over-statement of income can be considered as fraud intended to induce the extension of credit. In this event, credit card companies are generally agreeable to waiving fraud charges in exchange for a reaffirmation agreement and continued payment of all assessed principal, interest and late fees.

See also:
Personal Bankruptcy Home Personal Bankruptcy New Bankruptcy Laws Filing Bankruptcy
Chapter 7 Bankruptcy Chapter 13 Bankruptcy Bankruptcy Laws Bankruptcy Questions
Bankruptcy Courts Bankruptcy Alternatives Bankruptcy Forms Bankruptcy Exemptions
Types of Bankruptcy Personal Bankruptcy Tips Credit After Bankruptcy Contact Us

PAID ATTORNEY ADVERTISEMENT: This Web site is a group advertisement. It is not a lawyer referral service or prepaid legal services plan. Personal-bankruptcy-chapters-7-13-filing-laws.com is not a law firm. The sole basis for the inclusion of the participating lawyers or law firms is the payment of a fee for exclusive geographical advertising rights. Personal-bankruptcy-chapters-7-13-filing-laws.com does not endorse or recommend any lawyer or law firm who participates in the network. It does not make any representation and has not made any judgment as to the qualifications, expertise or credentials of any participating lawyer. The information contained herein is not legal advice. Any information you submit to Personal-bankruptcy-chapters-7-13-filing-laws.com may not be protected by attorney-client privilege. All photos are of models and do not depict clients. All case evaluations are performed by participating attorneys. An attorney responsible for the content of this Site is Kevin W. Chern, Esq., licensed in Illinois with offices at 25 East Washington, Suite 510, Chicago, Illinois 60602. To see the attorney in your area who is responsible for this advertisement, please click here.

If you live in Alabama, Florida, Missouri, New York or Wyoming, please click here for additional information.

By an Act of Congress and the President of the United States, we are a federal Debt Relief Agency. Attorneys and/or law firms promoted through this Web site are also federally designated Debt Relief Agencies. They help people file for relief under the U.S. Bankruptcy Code. Disclosures Required Under the U.S. Bankruptcy Code).

©Copyright 1999-2011, all rights reserved, Personal Bankruptcy, Inc.