Have you gotten over your head in credit card debt? If so, bankruptcy might be the solution for you. You can eliminate your credit card debts with a chapter 7 bankruptcy without paying anything for those debts. Many people are solicited for credit cards as soon as they turn 18 years old. At that age, most people are not yet financially mature or responsible, but the banks that issue the cards make up for people who don’t pay by charging high interest rates. Or maybe you just had some bad luck, like losing your job or having your hours or pay cut. Whatever the reason, it’s very easy in this society for people to get behind on credit card debt and not be able to keep up with the payments.
Americans have been taught that it’s OK to use credit cards for everything, you can just pay later. In fact, the lending banks encourage doing that, because they make a lot of money on the interest on credit cards. However, you should not use credit cards to buy things that you cannot afford, thinking that you will just pay for them later. Using credit cards instead of writing checks or carrying cash is a proper use of them, but using them to borrow money that you cannot afford to repay is a recipe for disaster.
However, whatever the reason that you honestly got into unpayable debt with your credit cards, chapter 7 bankruptcy may be the solution for you. More than 90% of consumers who file chapter 7 bankruptcy do not pay anything for their credit card and other unsecured debts, and those debts are completely eliminated in three to four months after they file bankruptcy.
If you have credit card debt that you cannot afford to pay, contact a bankruptcy attorney to discuss whether chapter 7 bankruptcy would be right for you. Our consultations are free and this could be the best financial move that you make.