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We practice CONSUMER BANKRUPTCY
law exclusively. 407-982-3763

We practice CONSUMER BANKRUPTCY law exclusively. 

One of the top Bankruptcy Filers

in the Orlando Area

One of the top Bankruptcy Filers

in the Orlando Area

Home » Credit Card Debt » Unsecured debt can still be discharged through bankruptcy

When the recession hit and more and more people found themselves in a position where they felt bankruptcy was the only option, bankruptcy filings hit an all-time high. At the same time, bankruptcy laws and regulations changed throughout the country. For those in Florida who feel that they are being strangled by credit card debt, it may come as a relief to know that unsecured debt can still be discharged in most types of bankruptcies.

Chapter 7 bankruptcy in particular is one option for those who have a great deal of unmanageable credit card debt. First, one must determine eligibility for Chapter 7 bankruptcy through the means test. If eligible, it is likely that all credit card debt can be discharged, meaning that credit card debt will not have to be repaid.

If Chapter 7 bankruptcy is not an available option, Chapter 13 can still help those with overwhelming credit card debt. Under this type of bankruptcy, one can have a certain percentage of debt discharged, and this includes credit card debt. However, debts are only discharged after completing a repayment plan that allows a significant amount of time to repay debts.

For many Florida families,unsecured debt is a continued source of anxiety and stress. Dealing with credit card debt on your own may certainly result in simply digging a bigger hole, leading to more financial distress. Fortunately, seeking help from a legal professional who can analyze your debt and advise you about options to help may be a step in the right direction. Our website has further detailed information about the benefits of bankruptcy and how it may be the best option if unsecured debt is a major concern.