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Can I still get rid of credit card debt by bankruptcy?
I know the laws were changed a few years ago, and filing bankruptcy is not as easy as it used to be, but I lost my job recently and have become unable to pay my credit card bills. Can I still get rid of credit card debt by bankruptcy?
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Can I still get rid of credit card debt by bankruptcy?
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Please help! I’m drowning in credit card debt. Are there any resources that can help me?This site does not provide legal advice and users of this site should not interpret any of the information presented here as legal advice. The information provided merely conveys general information related to commonly asked legal questions. We are not a law firm and the employees responding to questions are not acting as your legal attorney. You should ultimately consult with a Lawyer for your case.
Answers
Yes, the bankruptcy laws have changed, but for most people bankruptcy is still a realistic option. You should be aware of the impact on your credit score though. When you file for bankruptcy, most of your unsecured debts, such as credit cards, medical bills, personal loans, etc will be erased.
If you have property that you want to protect, you should make sure to take everything into account and check your states available exemptions for each peice of valuable property.
Talk to a Bankruptcy Lawyer to find out if bankruptcy is right for you, or if you would be better served with a debt settlement plan or other option.
Good luck.
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Posted by Staff Writer on 08 Apr 2010
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