At Liviakis Law Firm, you will find answers to your questions about whether or not filing for bankruptcy will eliminate your credit card debt. Most people have unsecured and secured debt. Unsecured debt is debt that is not tied to any property. Medical bills, utility bills, personal loans, and credit cards are all considered unsecured debt. Home mortgages and vehicle loans are examples of secured loans.
Our bankruptcy attorneys can meet with you to discuss your current financial situation and help you determine whether or not filing for bankruptcy would be of benefit to you. Chapter 7 bankruptcy is set up to discharge credit card debt along with other debt. Once this type of bankruptcy is filed, the automatic stay goes into effect. This means that anyone to whom you owe money, must stop pursuing you from the moment you file bankruptcy. The phone calls and the mailings will legally have to stop.
Chapter 13 bankruptcy also can be used to eliminate your debts. In a chapter 13 reorganization plan you pay only the amount of debt that you can afford based on your recent income averages. Our attorneys have successfully helped people just like you, get their excessive credit card debt discharged and back on a healthy financial road.