Yesterday, a caller asked me, “Can I file bankruptcy on my credit cards?” Yes, you can!
Not only CAN you file bankruptcy on your credit cards, but you MUST list your credit cards and ALL your debts when you file bankruptcy.
I get asked about this a lot. It is simply not true that credit card debts cannot be discharged in bankruptcy. Some people have gotten the wrong idea that bankruptcy help is no longer available for credit cards, medical bills or other categories of bills. The credit card industry spent millions of dollars promoting an anti-debtor message, which resulted in the passage of the pro-creditor bankruptcy amendments, BAPCPA. The myth grew with all the media stories about the law changes and the advertising urging people to file bankruptcy before the new law took effect.
The truth is that bankruptcy help is still available! Most debtors can discharge medical bills, credit cards and other debts just as they did under the old law. There are exceptions in a very small percentage of cases. Your bankruptcy lawyer will evaluate your situation and determine what debts you can and cannot discharge in bankruptcy.
Latest posts by Jill Michaux, Esq. (see all)
- Does Chapter 13 Mean Paying All Creditors Back? It Could Be Zero to Unsecured Claims - June 18, 2013
- Random Bankruptcy Audits Stopped - April 24, 2013
- What’s Baseball Got to Do with Bankruptcy? - March 31, 2013
- Bankruptcy Code Dollar Figures Raised 6.3% for Inflation - February 21, 2013
- Chapter 13 Bankruptcy Plan Form Feedback Sought - January 2, 2013
Last modified: January 23, 2010