Wednesday, August 18, 2010

Could Filing Chapter 7 Bankruptcy Clear Your Debt?

While many people use Chapter 7 to eliminate their credit card debt, your case may also clear other types of debt. Most unsecured debts may be included in your filing, including:

•Credit card debt
•Medical bills
•Payday loans
•Utility bills
•Personal loans
Unlike some programs, you won't have to pick and choose. If you have credit card bills, medical bills and payday loan debt you may include and eliminate all of them in a single Chapter 7 case.

Even if you're behind on your mortgage payments a Chapter 7 filing may still help. If you're back on your feet, clearing these debts may help you catch up on mortgage and car payments, while Chapter 7's protections may help you secure your property.

No comments:

Post a Comment