Credit care: Use pre-bankruptcy counseling, required by law, to sort options
News from Arizona Daily Star:

2012-10-14T00:00:00Z Credit care: Use pre-bankruptcy counseling, required by law, to sort optionsTanisha Warner Arizona Daily Star

Q: We have a home that does have equity, but we don’t want to sell because our credit is ruined and we won’t be able to get another home. We have only credit-card debt besides our home mortgage. We can’t pay all the cards. We have been trying for a long time and have paid them down a lot, but can’t any longer. Should we file bankruptcy? Can we keep our home when we file, or should we just stop paying the credit cards? We really want to keep our home!

A: Bankruptcy is certainly an option if you truly can’t pay your credit cards. However, because the laws changed in 2005, you may not qualify for a Chapter 7 filing, in which your credit-card debt would be eliminated in full. Unless your income is less than the median income for your state of residence, you would most likely instead have to file under Chapter 13, in which at least a portion of your credit-card debt would have to be repaid.

Should you file a Chapter 13, you would be allowed to keep your home. How much you would have to pay your creditors in a Chapter 13 filing would depen…………… continues on Arizona Daily Star

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Related News:

2 sought in use of stolen credit card
News from Toledo Blade:

Home » News» Police & Fire

Published: 10/13/2012


Toledo Police are attempting to identify two suspects attempting to use a stolen credit card that was taken from a motor vehicle.

… Read the full article

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