DO U HAVE TO PAY YOUR CREDIT CARD DEBT BACK IF YOU FILE BANKRUPTCY

Question

DO U HAVE TO PAY YOUR CREDIT CARD DEBT BACK IF YOU FILE BANKRUPTCY

Answer 1

The best option for debt trouble is negotiating your debts with your credit companies to keep the payments from swallowing all of your income. Typically, you have to get a counseling agency to call on your behalf. If you try to work with them yourself, many of them will not cooperate with you because you are not enrolled in credit counseling. Try http://www.womenindebt.info. Good luck!

Answer 2

You have to pay all of your debts back, even if you file bankruptcy.  All the bankruptcy does is it gives you time.  It doesn't erase your debt.  It also gives you horrible credit going forward - it is very rarely a good idea.

Answer 3

No, depending on what chapter you file on.  I had to file bankruptcy years ago and it cleared my credit card debts, and also taught me a lesson on credit cards.  Now that I have established good credit, I carry one credit card and when I use it, I pay it in full when the bill comes.  I do not use it for everyday purchases.  Good Luck.

Answer 4

No, the credit card debt is the main reason for most bankruptcies in the US and Canada.  

Answer 5

It depends. If you listed all your credit card companies and filed a Chapter 7 bankruptcy and it was completed (discharged) then no you don't have to pay them back.

However if it was a chapter 13 bankruptcy, or you did not list all the companies, or it wasn't discharged, then yes you still have to pay it.