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Bankruptcy

: The Debt Podcast

Does It Matter, For Bankruptcy Purposes, How the Credit Cards Were Used?

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Bankruptcy deals with secured and unsecured debts.  Credit card bills are generally unsecured, unless the card was issued by a specific store with a properly executed security agreement.   Debts owed on most credit cards, like Visa or MasterCard, are almost always unsecured.  That means they will simply be discharged in a Chapter 7 bankruptcy.  And [...]

Full post as published by The Debt Podcast on April 20, 2009 (boomark / email).

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