BANKRUPTCY VIDEOS
- Introduction to Bankruptcy
- Types of Bankruptcy
- Limits of Bankruptcy
- Filing for Bankruptcy
- Meeting of Creditors
- Bankruptcy Court Hearings
- The Bankruptcy Discharge
- The New Bankruptcy Law
- The Credit Damage Myth
- Chapter 7 Bankruptcy Explained
- Chapter 13 Bankruptcy Explained
Blog
- Bankruptcy Options For Automobiles
- How Often Can I File for Bankruptcy?
- Will Filing Bankruptcy, Cause Me To Lose My Recreational Vehicle(s)?
- Am I Better Off Trying to Work with a Credit Counseling Agency?
- Will I Lose My Retirement Account If I File Bankruptcy?
A commonly overlooked benefit of bankruptcy is how it can modify the obligations you owe on your motor vehicles / automobiles. Many people who come to... Read more
How Often Can I File For Bankruptcy? You can file for Bankruptcy multiple times. However, certain time restrictions apply. These time restrictions... Read more
Assuming you own the recreational vehicle free and clear or have substantial equity in it, the answer as to whether you will be able to keep it depends... Read more
Honestly, I cannot think of any situation where working with a credit counseling agency would be better than filing bankruptcy. I would suggest pursuing... Read more
In nearly all bankruptcy cases, you will not lose your retirement account. The bankruptcy code specifically provides certain exemptions. These bankruptcy... Read more
How Bankruptcy Law Protects You
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Eliminate Your Credit Card Debt by Bankruptcy
Bankruptcy can eliminate nearly all your credit card debt. Either a Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy has the power to eliminate all your credit card debt. The only exception would be recent cash advances within the last 70 days or credit card purchases within 90 days of you filing your bankruptcy petition. Additionally, an exception might be for fraud. However, baring these rare exceptions, all other credit card debt is typically dischargable.
The dischargability of your credit card debt means that it is gone forever. This means that after filing bankruptcy, you will never have to pay it again. Even if the credit card company has filed a law suit or obtained a judgement against you, you still will not have to pay this debt. In fact, once you file your bankruptcy petition, it is illegal for credit card companies or their agents to contact you regarding any outstanding obligation you owe them.