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Credit card debt can be confusing when filing for bankruptcy

On Behalf of | Aug 28, 2014 | Credit Card Debt, Firm News

The recent economic situation of the last few years has left many people wondering what their options are. While most people may understand the basics of filing for bankruptcy in Florida, they may be confused about how debt is divided and handled during the process. It is important for Florida residents to understand and seek current information about how to deal with credit card debt when going through the bankruptcy process.

Bankruptcy is a great way to discharge overwhelming debt and avoid losing your home and vehicles. However, credit card debt can be discharged as well under the right circumstances. For many people, this kind of debt is a primary source of concern and is simply unmanageable. Without dealing with credit card effectively, if can be impossible to get a fresh financial start.

Chapter 7 bankruptcy can help you completely discharge any credit card debt. Chapter 13 bankruptcy, on the other hand, is a way of devising a repayment plan. This may mean you pay back a percentage of the credit card debt that is crippling your financial outlook.

There are plenty of misconceptions out there about debt in general. Our website page focusing on credit card debt can help dispel the myths from the facts. Our credit card debt page can also give you the information you need to decide how your credit debt should best be handled. When debt has had a serious impact on your life and bankruptcy may be a possibility, it is important to have reliable sources of current and accurate information in Florida.

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