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Posted On: June 23, 2010 by Scott Sagaria

Will Bankruptcy Help With Credit Card Debt?

A San Francisco bankruptcy lawyer tells Bay Area consumers whether or not

Bankruptcy will help with credit card debt...

What kind of debt is credit card debt?
Credit card debt is known as unsecured debt. That is because there is no collateral or security agreement attaching the debt. Unlike secured debt (such as a home or car loan), credit card debt limits the collection options for creditors.

Can credit card debt be discharged in bankruptcy? Yes. Credit card debt can be discharged in a chapter 7 bankruptcy. It does not matter how old the debt is or how much debt there is on a card. In a chapter 13 bankruptcy, depending on your income, the unsecured creditors would either receive no repayment or very little repayment over the life of the plan. The only issue that may arise when filing for bankruptcy is if several large purchases were made just prior to filing. ,

What happens if my credit card debt is now in collections? Filing for bankruptcy will stop the collection process. Credit card debt that has been sold to a collections agency is still a dischargeable debt. In addition, if your wages were being garnished, the filing of the bankruptcy petition would stop the garnishment and discharge the judgment amount if you filed chapter 7. In a chapter 13 bankruptcy, the collections also stop.

What happens if my credit card company calls me after I file about my credit card debt?Creditors are not allowed to contact you and harass you after you have filed your bankruptcy petition. There are laws that prohibit this type of contact. Notify your attorney and the bankruptcy trustee assigned to your case.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

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