Can Credit Card Debt Be Discharged in a Bankruptcy?
Yes, it can. You should never incur new credit card debt if you are contemplating a bankruptcy filing, but an unsecured credit card you are unable to pay can be discharged without repayment.
With more than 30 years and more than 30,000 bankruptcies filed, our Indiana bankruptcy attorneys can help you escape from credit card debt and put you on the road to financial freedom. Discharging credit card debt in bankruptcy is one of the simplest and most common forms of debt relief that we provide for our clients.
Walton Legal Services: More than 30 years | More than 30,000 bankruptcies filed
Causes of Bankruptcy
In our experience, clients usually file bankruptcy due to one of the following situations:
- Over-borrowing: This happens to more people than you might think. Very few people are prepared for the shocking effect of the interest rates that credit card companies charge, and debt can snowball quickly.
- Sudden financial hardship: Many people who have steady jobs, are saving money for the future and staying on top of their bills get hit with sudden job loss, medical emergency, divorce or other disaster that leaves them in financial turmoil. They need to tap into their credit cards or payday loan services to cover their costs, and quickly, they find themselves buried under a mountain of debt.
- Gradual debt increase: For many people, it sneaks up on them. They are using their credit cards for a small item here and something a little bigger there. With interest compounding onto principle and the recently increased minimum monthly payment requirement, debtors often see the exponential increase of credit card debt begin to drown them after only a couple of months of not being able to make their payments.
Regardless of the cause of your credit card debt, call us. We will not judge you. We are here to help you get the debt relief that you need. We want to help you get on the road to financial freedom.
If you are looking for an Indianapolis debt-relief lawyer to help you find the road to financial freedom, call one of our Indianapolis law offices, call our Columbus, Indiana, office or contact us online. We offer free initial consultations, and we give you detailed up-front information about our fee arrangements, so there will be no surprises.
