Credit card debt is one of the most common forms unsecured debts to be discharged in bankruptcy. If you used your card recently for large purchases it is possible they may be reviewed to make sure they can be successfully discharged. This is due to certain charges that may not be eligible for elimination, and… Read more »
Credit Card Negotiation
Most people look to file Chapter 7 bankruptcy to eliminate credit card debt. Some feel it may not be a good idea to keep your credit card especially if you plan on using it after your case is completed. The good news is it is possible to keep your credit card after filing bankruptcy. Many… Read more »
Credit card use may be a concern for debtors experiencing job loss or those finding it a challenge to make ends meet. While juggling daily expenses many have a hard time meeting debt obligations. Bankruptcy may be the next step for those who are considering the option. Many consumers understand they should stop using their… Read more »
Credit Cards have been around for decades, and the debt that can come along with them can pose real financial challenges. Here’s a look at the state of credit card debt and how it’s affecting Americans. Please use the HTML code below to embed this graphic: Created By: Allmand Law Bankruptcy Firm
Credit card debt is the most common form of debt that is unsecured. This means that if you default on payments or choose not to repay what is owed, the credit card company has a right to sue. Depending on what is owed on the account, a lien may be placed against property or you… Read more »
At first glance, the title of this article might seem a little ambitious to you. After all, if you have credit cards after personal bankruptcy, you just may feel grateful that you even have access to credit. Therefore, you may be willing to put up with any interest rate that your lenders want to charge you,… Read more »
One of the first tools post-bankruptcy debtor uses to rebuild their credit score is the credit card. While they may start off with a secured credit card, within a year of making regular payments post-bankruptcy debtors can graduate to unsecured credit cards. But what are some of the important facts debtors coming out of bankruptcy… Read more »
In a recent bankruptcy case a debtor who habitually lied about his income to get credit cards is facing up to 90 years in jail for lying to three credit card companies about his income. Under Title 18 of the U.S. Code, Section 1014 it is a federal crime to lie to certain types of banks… Read more »
There is good news and bad news for post-bankruptcy debtors searching for credit card offers in the coming year. The good news is that more credit card issuers are willing to lend to more consumers, even those who have filed bankruptcy. Credit card solicitations have nearly doubled in the past year and many of them target the sub-prime market, those with little credit, poor credit and those debtors who have filed bankruptcy. But let’s take a look at some of the other changes that might not be good news for borrowers exiting bankruptcy.
The delinquency rate for credit cards issued by banks has risen from 3.62 percent to 3.65 percent in the past year. Some analysts note the persistently high unemployment rate as the reason for the rise in credit card delinquency. This may be true; but the rise in credit card delinquency rate is also being caused by the undying idea in our society that credit card debt is somehow justified even if we know that credit card debt often leads to bankruptcy.