The most common form of debt in the United States is credit card debt .
There are millions in circulation by a number of creditors with Chase
bank alone having more than 100 million in 2008. While most people feel
it is not a big deal to have credit card debt, some who find themselves
in a financial crunch can find it difficult to make payments with increasing
interest rates, hidden fees, and complex contracts. In short, a small
bill can turn into a financial nightmare when debt gets out of control.

An important element to consider in bankruptcy includes understanding each chapter.
Chapter 7 bankruptcy wipes out qualifying unsecured debt, such as credit card and medical debt
quickly, in as little as a few months.
Chapter 13 bankruptcy is a reorganization repayment plan that helps pay what you owe within
3 to 5 years based on your income ability. Unsecured debt such as credit
card debt may be eliminated at the end of the bankruptcy. This option
can help you keep your home and vehicle while getting payments caught
up. Some believe you can file bankruptcy just with credit card debt, but
based on your situation you may benefit more when you include other outstanding
debts when you file.

Bankruptcy may help you get rid of credit card debt depending on your situation.
You may qualify to file for protection and have related debt discharged,
but it may depend on the chapter you file. In understanding which option
could be the right solution for you, it helps to discuss the process with a
bankruptcy expert who can present options for debt relief based on your needs.