Is bankruptcy the answer to get out of credit debt?

Answer On One Hand: Last ResortBankruptcy is seen by most experts as the last resort when dealing with credit card debt. According to the National Federation for Credit Counseling, the negative aspects o... Read More »

Top Q&A For: Is bankruptcy the answer to get out of credit debt

What Happens to Credit Card Debt in Bankruptcy?

Bankruptcy can serve as a powerful form of debt relief for individuals who can no longer afford growing amounts of debt. What happens to an individual's credit card debt during a bankruptcy depends... Read More »

Will Bankruptcy Take Charged-Off Bad Debt Off of My Credit Report?

When a creditor charges off a bad debt, this means that it considers the debt to be unpaid for accounting purposes. You still owe the debt and the creditor can still try to collect it, so you can i... Read More »

Relationship Between Credit Card Debt & Bankruptcy?

Many people in the United States struggle with credit card debt. As of 2009, the debt service ratio, which is the ratio between debt and disposable income, is 110 percent in the United States, acco... Read More »

Can credit card debt be discharged in a bankruptcy in Idaho?

Bankruptcy is provided for by federal law, so the provisions for credit card debt in Idaho will be much the same as any other state. Chapter 7 bankruptcy, where debt is simply eliminated, and Chapt... Read More »