Sunday, July 17, 2011

What bankruptcy chapter is for credit cards only?

It's usually chapter 7. But if the amount owed is less than $15,000, the courts may reject and set up a payment plan. If it is approved, just remember it will stay on all 3 credit reports for 10 years.Have you tried calling the credit card cos and ask if they would convert it into a personal loan for 5 or 6 years?

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