Are credit cards excluded from Chapter 7?

by **sylvester37** » Fri Mar 06, 1970 4:16 am

Someone told me that the law changed recently in regards to bankruptcy and credit cards. They said you can no longer file against credit cards. Sounds hard to believe. Were they misinformed?

by **darik2** » Sat Nov 03, 2007 1:35 pm

Not correct. The new law passed under George W. (whose biggest contributor was the credit card industry) made it more difficult to file for Chapter 7...You have to pass a "means" test...which translates that you income must be below the average for your state. Most recently charged credit card transactions cannot be included in Chapter 7

by **kalvin71** » Mon Dec 08, 2008 10:43 am

If you qualify for chapter 7 then you can include credit cards. It will not cover transactions within the past 3 months to prevent people from running up huge balances before filing.

The new credit card laws do not change this. The only laws that changed were those to prevent people who could afford to pay and chose not to from filing several years ago.

by **crosbey** » Thu Mar 10, 2011 4:28 pm

"Someone" is wrong. Bankruptcy discharges credit card debts.

Nearly all bankruptcy lawyers offer free consultations. Why not meet with a professional, who actually knows what they are talking about, instead of getting legal advice from random strangers on the internet?

by **dasco** » Thu Mar 17, 2011 2:58 pm

It must have been a bill collector that told you that? He lied. Unsecured consumer debt (credit cards and medical bills) are the major reason why consumers file chapter 7.

by **aenedleah10** » Sun Mar 27, 2011 1:36 pm

What does you attorney say?

by **aescby** » Fri Apr 08, 2011 5:45 am

Someone told me that the law changed recently in regards to bankruptcy and credit cards. They said you can no longer file against credit cards. Sounds hard to believe. Were they misinformed?

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