Posts Tagged ‘chapter 7 bankruptcy’
Can I still use my credit cards if I am considering filing for chapter 7 bankruptcy?
Reed Allmand answers your Bankruptcy Questions.
Read more at: http://www.allmandlaw.com
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Can I keep any of my credit cards after I file a chapter 7 bankruptcy?
Reed Allmand answers your Bankruptcy Questions.
Read more at: http://www.allmandlaw.com
Duration : 0:1:7
Can I keep credit cards in a bankruptcy? – Bankruptcy Lawyers Salt Lake City Utah
Salt Lake City Bankruptcy Attorney. Visit http://www.butterslawfirm.com/ or call us at (801) 732-7574 for more information about filing bankruptcy in Salt Lake City, UT and (801) 513-3328 in Layton, UT.
In this video, Amy Butters, a bankruptcy lawyer in Utah, discusses if you can keep your current credit cards when you file a bankruptcy.
Experienced Bankruptcy Lawyer in Utah helping business and individuals obtain debt relief and get a fresh start. Chapter 7 / Chapter 13 / Chapter 11 Bankruptcy Debt Relief
Salt Lake City Office:
Amy L Butters Attorney At Law
(801) 732-7574
2150 South 1300 East
Suite 500
Salt Lake City UT 84106
http://www.butterslawfirm.com/
Layton Office:
Amy L Butters Attorney At Law
(801) 513-3328
101 North Fort Lane 104
Layton UT 84041
http://www.laytonbankruptcylawyers.com
Amy Butters Law Firm also serve the following cities of Salt Lake City Utah, Layton Utah, Provo Utah, North Salt Lake City Utah, Ogden Utah, Farmington Utah, Hooper Utah, Roy Utah, Centerville Utah, Woods Cross Utah, Bountiful Utah, Syracuse Utah, Morgan Utah, Clearfield Utah, Huntsville Utah, South Salt Lake City Utah, for Bankruptcy service.
Duration : 0:0:46
Arizona Bankruptcy Lawyer: All My Credit Cards?
I’m Joseph McDaniel and I am a Board Certified Arizona Bankruptcy Attorney. My firm is a debt relief agency and I help both people and businesses file bankruptcies.
If you’re interested in filing a bankruptcy in Arizona or have questions, please call our firm at 602-297-3025 or visit my website at http://www.josephmcdaniel.com/ and my free Bankruptcy blog at http://www.arizonabankruptcyblog.info/
Well, no. Yeah. Sort of.
There was a scene in “L.A. Law” on television where Artie’s secretary filed a Chapter 13 bankruptcy, and in that scene the actor playing the Chapter 13 bankruptcy trustee made a big show of cutting up her credit cards while he sneered at her and she cried. Before pontificating that she didn’t need a car, because she could take the bus!
Mwah-haa-haaa!!
What really happens is much simpler and less dramatic, which is, I suppose, the reason it didn’t show up on television. When you file a Chapter 7 (or 13), all your creditors are notified.
And credit card companies aren’t dumb; when they find out that you filed a bankruptcy, they shut the credit spigot. It’s pretty close to automatic.
If you had a card with a zero balance, so that specific credit card company wasn’t a creditor in your case, you could try filing the Chapter 7 bankruptcy, then using that zero balance card as though nothing had happened.
And it might even work.
But probably not, because computers get smarter every day, and banks get fewer every day.
Here’s a better solution: read “Bounce Back from Bankruptcy”, available on Amazon (I don’t get a kickback from the author or Amazon), and look at the nice lady’s suggestions for reestablishing credit, credit cards, and then buying a house.
Buying the new house is optional, of course.
Now, would it be possible to reaffirm a credit card debt?
Sure, if you had an Arizona bankruptcy lawyer who was dumb enough to let you do that. The reason I filed for you was to get you out of your debt and out of trouble. I didn’t sign on to say that reestablishing your unsecured debt was in your best interest (which it isn’t) and not a hardship to your starving children (which it is).
So no reaffirmations on credit cards from me unless you have a remarkable story!
Especially because you can use a secured credit card on the other side of the bankruptcy just as though it were an unsecured credit card.
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Should I max out my credit cards before filing a Chapter 7 Bankruptcy in Arizona?
I’m Joseph C. McDaniel and I am a Board Certified Arizona Bankruptcy Attorney. My firm is a debt relief agency and I help both people and businesses file bankruptcies. If you’re interested in filing a bankruptcy in Arizona or have questions, please call our firm at 602-297-3025 or visit my free Bankruptcy blog at http://www.arizonabankruptcyblog.info/ and my website at http://www.josephmcdaniel.com/
Shall I Rack Up My Credit Cards to the Max Before I file My Chapter 7 Bankruptcy?
I don’t normally suggest that as a course of action.
Maxing out your credit cards just prior to filing is generally considered rude, crude, and fattening by the credit card companies themselves, and that only seems fair.
They set up a deal with you based on your expressed willingness to pay as agreed on the credit card, and loading them up to the limit just before filing a bankruptcy just looks bad.
That’s why there’s a presumption that if you rack up credit card charges prior to your bankruptcy filing, they won’t get scraped off. The relevant portion of 11 USC 523 is the following:
“(I) consumer debts owed to a single creditor and aggregating more than $500 for luxury goods or services incurred by an individual debtor on or within 90 days before the order for relief under this title are presumed to be nondischargeable; and
(II) cash advances aggregating more than $750 that are extensions of consumer credit under an open end credit plan obtained by an individual debtor on or within 70 days before the order for relief under this title, are presumed to be nondischargeable”
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