Bankruptcy Law Credit Card Debt

can your debts be wiped out? is it harder to declare? does it cost more to file now? save your opinions and give facts please.

Check the sites thoroughly. It’s an excellent site with some wonderful options for you. It will definitely help you. Have a look.

http://bankruptcy-info.we.bs/
http://www.loan-house.info/2009/09/choos ing-right-bankruptcy-attorney.html

2010-03-04 01:13:21 by Absolution

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I currently owe $45,000 in student loans and I am having a hard time paying them off. The loans are private (sallie mae) and I am not elligible for consolidating them via federal loans since I am not a US citizen. I was not able to get a visa so I had to leave the US. I live in Europe now.

I understand that declaring bankruptcy would not cancel out the student loans, but I have read that bankruptcy could cancel out credit card debt. I have a good credit score (790), so given some time, with an even higher credit score, I may be able to transfer my loans to a few credit cards.

What are the laws regarding credit card debt and bankruptcy? What difference does it make that I am not a US citizen and do not live in the US?

I would strongly advise you not to go that way. You will carry that mark against you for life. Talk to your student loan creditors and tell them that you are doing it really tough. Most will understand and help you come to a better arrangement that's suitable to you both. I have been in a similar position to you and I worked out a solution with my creditors. Maybe you could talk to a financial adviser who could show you various options. Good Luck.

2007-04-16 09:04:53 by migueljuan

Price: $24.99

I have a friend in FL that is filing bankruptcy. I thought they passes a law a few years ago that stated you could not include credit card debt in bk. Is that true? They are telling me that you can include credit card debt.

All consumer debts can be included in a bankruptcy. It's just a lot harder to file chapter 7 now.

First you have to go through 6-months of credit counseling and then take whats called a means test to determine weather you file chapter 13 or 7.

If you make over the average annual income for your State, you are forced into a chapter 13.

2007-05-01 08:31:30 by beehappy01

Price: $9.95

ive been told that there are new laws, but im unable to find them. im trying to prove somebody wrong that they can file a bankruptcy and include all of his credit card debt. so you can include a house or car or boat but not a credit card? is this true?

As of October 2005 you can no longer file bankruptcy on any credit cards and that is in every state as far as I know. I know Michigan, Indiana, and Ohio for sure but I think it may include all 50 states. It was in the news and most backruptcy lawyers have a copy of the newpaper article in their offices. Yes it is true you can file on hospital bills, autos, or anything you owe on except credit cards.

2006-04-25 19:41:54 by birdone97one

Because of medication that I'm required to take and have been on since 1999, since I have no medical insurance, I've had to continually throw the costs of meds on credit cards. I'm making more money now than a month ago in my last job, but I'm still only able to make the minimum payments.

I don't buy useless stuff, just what I need, not want, NEED. My dad is hinting at me to get a place of my own becuz his witch of a wife is putting him up to it. If I didn't have all this debt, maybe, just maybe, I could afford a studio apartment. I know the bankruptcy laws have changed since like 5 years ago or whatever or even less than that, and I know they make it a lot harder for you to get rid of your debt. I don't know what to do. I've contacted non-profit credit card organizations and they just tell me I need to find a job that makes more money. Well, that's really easy for them to say, especially when I don't have a college degree. Do I have a chance?

i had to declare the b word last year lol
i had almsot $50k in debts.
i would recommend calling and meeting with a lawyer to get abrest of the new laws and rules.
for me i got rid of all my debt. i was left with 2 mortgages and a secured loan to repay. the sticker is i can't get a loan for 2 years so if i wanted to sell my house within 2 years of filing i wouldn't be able to get a loan for a new house.

the non profit companies suck- i had a lady say to me- can't you just work more over time- yeah me working 48 hours a week's not enough to kill me already right?

be carefull of where you try to rent. your credit score and bankruptcy can effect you getting approved for that too

2007-09-06 10:36:33 by Da Austrian Oak