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Does bankrupcy remove credit card judgments?
I was sued by a credit card company and a judgment was held against me. Does bankruptcy erase these judgments?
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Answers
Typically, a credit card judgment will be viewed as an unsecured claim against you. As most other unsecured claims, it will probably be wiped out by bankruptcy, unless you have a very high income and can afford to include it in a chapter 13 repayment plan.
If you file for chapter 7, then the judgment will probably be discharged along with your other unsecured debts.
However, the credit card company will probably argue that the judgment should not be included in the discharge, because it was conceeded in court prior to your filing. Your attorney will argue that, if the judgment is upheld, it would be unfair to other creditors that are part of your case.
Talk to a bankruptcy lawyer to find out how bankruptcy will eliminate your debts, and whether it's a better option than some other alternatives.
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Posted by Staff Writer on 26 Mar 2010
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