When Is Chapter 7 Bankruptcy Better Than Chapter 13 Bankruptcy?
When it comes to dealing with credit card debt, filing for bankruptcy can be a viable option for getting out from under financial obligations. But the question remains: Can you file for bankruptcy on credit cards?
The answer is yes, but there are certain conditions that must be met before you can do so. First, the amount of debt must exceed your ability to pay it off in three years or less. Additionally, even if you meet this criteria it may not always make sense to file for bankruptcy on credit cards because unsecured debts like credit card balances are typically discharged in Chapter 7 bankruptcies and could have a long-term negative impact on your financial health.
Before deciding whether or not to pursue this option, speak with an experienced financial professional who can provide guidance tailored to your situation and help you determine the best course of action.
The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of the debt and start over.
Our goal is to help you find a fresh start FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706