Can you file bankruptcy on credit cards?

Question

i have heard that you can not file bk on credit cards but i didnt know. me and my husband have put ourselves in a big finacial bind. and we have no one to blame but us and i know that. we have a few credit cards, a house, and couple of car loans. i want to file on only the credit cards not my house and cars. is that possible?

please only serious answers not the smart ones saying you should not have gotten them blah blah blah. i know this. and once i get all of this taken care of i will not get another card again. i just want to start fresh. which is kinda hard.

PLEASE HELP ME!!

Answer 1

You can't pick and choose which debts go on the bankruptcy.  You must list everything you owe- you need to file a chpt 13 if you want to keep your cars & house.  With a 13 you make payments to the trustee to cover all debts.  You still have to pay a portion of the unsecured (credit cards) but not the whole amount.  You pay the full amount for secured debt.  I wouldn't recommend it at all.  The trustee takes so much out of every pay check & does not allow you much to live on.  A chpt. 7 is where everything is wiped out, but you can't keep the home & cars- they are sold to pay off debt.

Answer 2

You can but it has to be over a certain amount depending on the state you're in. Usually credit card debt isn't enough to file BK on so they make you consolidate and pay them in payments but its still considered BK. So think about it carefully because it stays on your record anyway whether you add the home and car loans or not, no one will give you anything else on credit.

Answer 3

I've never heard of filing bankruptcy over one matter. I've only heard of it being done as a whole, to erase all debt. The situation can be pretty extensive.

My husband owes about $20,000 in debt, I believe - credit cards, unpaid bills, etc., and he went to an attorney for an analysis. I can't remember all the details, I know that they survey your household when you claim bankruptcy. You can only have one of everything (like tv, computer, stove, etc.), and only things that are necessities, I believe. I don't think its that expensive to meet with an attny, just to figure out the details. Some will even give you a free consultation.

I hope you read this part, and you really take action with it:  

Around here, there's this guy, DAVE RAMSEY.

This guy used to be in real estate, or similar, he got himself into a whole lotta trouble financially. Him and his family SERIOUSLY cut back on things they didn't need, went on a (no lie) rice and beans diet, and worked to pay off his debt. Like I said, he had a whole lotta debt!! He did it. And, now he mentors and consults people who are in debt. There are so many people out of debt because of his guidance.

LASTLY _ do NOT get a loan! DO NOT CONSOLIDATE! YOU CAN DO THIS without that type of help!

Work from your worst, highest interest, and continue from there. You guys are gonna be good.

Like that other person answered, they're a lot of bark, but no bite. You can hold them off long.

They can get to your paycheck, but it takes a long while for that to happen.

You can ask for a deferrment, or hardship too, btw, on your credit cards, school loans, regular loans, and most any kind of debt.

You don't HAVE to do bankruptcy.  

OMG! I'm going off on this.

Deferrment will prolong them bothering you, and adding interest and fees for 6-12mths (you'll have to ask them). Hardship, you may have to fill out paperwork. (you can find some of this info on the back of your bills, or by calling the credit card company, or going to their site online.)

Creditors don't want to "get" you (they want their money =)). So, just call them up, be cooperative, and let them know your situation. They'll work with you. Don't let them talk you into doing small payments though. Defer or hardship it.

Bankrupcy is too permanent and BAD. That should be your last resort, seriously.

Sorry so long. Hope this HELPED!