Credit card debt is a major problem in the U.S. It seems like everywhere you turn, you’re hit with a new offer from a creditor. Open this line of credit and get a low interest rate for six months, then bam — suddenly you’ve collected more credit cards than you can keep up with. While credit is important — both building and maintaining it — it may not tell your whole financial picture. If you’ve recently lost your job or expect to undergo surgery in the coming months, your credit may take a hit when you’re not able to pay your bills on time. You may have trouble then getting a mortgage or other new lines of credit. Collectors may be after you. The good news is, both credit card debt and medical debts can be discharged in bankruptcy, and collectors stop calling. Learn more from National Bankruptcy Forum about credit and how it is affected by bankruptcy — both the good and bad.
Last updated on October 6, 2021
Last updated on October 22, 2021
Chapter 7 Bankruptcy
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