bankruptcy credit cards and debt relief

Bankruptcy Credit Cards and Debt Relief from Credit Card debt is possible by filing Bankruptcy. If you are tired of the endless phone calls and and not making a dent in paying down your credit cards, then Bankruptcy may be right for you! Further, you are not alone in having credit card debt.  In 2006 a survey conducted by Survey of Consumer Finances by the U.S. Federal Reserve showed that the mean household credit card debt was $5700. Here in Florida, the average credit card debt was $5754. There are many reasons for carrying large amounts of credit card debt. At Walker Law Firm, P.A.,  the most common reason our client’s inquire about Bankruptcy Credit cards and debt relief is loss of employment and the use of credit cards to pay living expenses. Other reasons I hear, is lack of discipline using credit cards. However, regardless of the reason, with a Chapter 7 filing,  at the conclusion of the process, the Debtor’s receives a discharge and pays nothing to the Creditors.  While you may think this sounds to be good to be true, it is true. However, there is an exception. Certain Credit Card agreements maintain a security interest in the purchased item (similar to a car loan). Typically you see this in jewelry stores and others where large household items such as appliances are involved. In these instances, when the Bankruptcy petition is filed, the Debtor can reaffirm the debt, in other words, continue paying, or return the items and no longer be responsible for payment. At Walker Law Firm, P.A., I will guide you through the entire process explaining each of your options and help you decide the best outcome for your situation. Call Attorney Edwin M. Walker III for a free telephone consultation and start the journey towards the ridding yourself of debt and a fresh financial start!

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