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Credit Card Debt

In today's world of consumerism, credit cards have become a must. Similarly, credit card debt is a very common case with many people. Till you are able to repay your debts regularly, everything goes fine. But the moment you pass through hard times, or a lack of finance to give back your credits, the debt situation comes. When a credit card account goes delinquent for more than 180 days, banks will charge off what is owed as “bad debt”, and sell the account to a debt collector who will start harassing you for past due balances. The consumer has no option but to declare himself bankrupt. It is here when Chapter 7 Bankruptcy comes to rescue, and can help you eliminate all your credit card debts.

Credit card debt relief is a complete relief from your credit card bills. The rule is that the debts in credit card bills and medical debts are dischargeable in bankruptcy cases. Once you report bankruptcy, all your unsecured dues get eliminated, and you get relief from such credit card debts. The credit companies who will pursue the debtor for his old, discharged debts will be subject to violation of the law, and sanction by the bankruptcy court. There is no tax liability in such cases, unlike the forgiven one with the lender. Credit card companies should report the discharged debt as having a zero balance, so it's always a good option to check your credit report after you file for bankruptcy, to confirm its accuracy. But you have to remember that if you have any fraudulent record, then the discharge of your debt will become difficult or impossible in some cases.

For example, the purchase of luxury items just before the bankruptcy is considered to be a fraud in which the Chapter 7 Bankruptcy cannot help the debtor.

Creditor companies often send debtors offers for credit cards after they filed for bankruptcy, and this is your second chance to start a new financial life and rebuild your credit.

Chapter 7 Bankruptcy has been designed for credit card debt relief and credit repair. If you suddenly find yourself in a situation where you can no longer pay your credit card bills and find no clue how to solve the problem, The Law Office of Daniel Podkowa is the best place to look for.

With 24 years of legal experience in the field of credit card debt elimination, bankruptcy attorney Daniel Podkowa can assist you with a free evaluation of your bankruptcy, to rebuild your credit as fast as possible. If you have questions about bankruptcy, or maybe seeking credit card debt relief, please do not hesitate to contact my office today, so you can get professional legal help, and start the new financial life you deserve.

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