There are many reasons people find themselves in situations where they feel they may need to turn to bankruptcy to regain financial footing. One common reason is the use of credit cards. In fact, credit card debt can spiral out of control and leave Florida families with no alternative other than to file for bankruptcy.

If credit card debt has become unmanageable, there may be an influx of calls from creditors. Some creditors have been known to tell those in debt that new bankruptcy laws mean that credit card debt is not dischargeable if a bankruptcy is filed. It is important to understand that this is simply not true.

It is also important to understand that different types of bankruptcy result in credit card debt being handled differently. If a Chapter 7 bankruptcy is filed, credit card debt may be wiped out entirely. However, if a Chapter 13 bankruptcy is filed, a petitioner will have to pay back a portion of that debt over a certain period of time. A bankruptcy attorney can help you determine which type of bankruptcy is suited to your financial situation.

Bankruptcy can be an overwhelming process to begin. The more you know about the process and the more you understand about the likely outcome, the better prepared you will be to decide if bankruptcy is the right choice for you and your family. Our firm knows that changing laws coupled with myths about bankruptcy make it difficult for consumers to be sure of what will actually happen. On our website, you can learn more about credit card debt solutions and also learn how a Florida bankruptcy attorney may be able to help.