With the new bankrupcy laws, can i still get rid of my credit card debt?

You could %26quot;get rid%26quot; of the debt if you are qualified to file a chapter 7 case - meaning you have less than the median income in your state (for example $41000 in Illinois for an individual or $72,000 for a family of 4) and if you haven%26#039;t filed in the past 8 years. Otherwise, if you have enough disposable income to pay at least $10,000 over 5 years or $6,000 over 5 years (if that results in payment of 25% of your debt), you would have to file a chapter 13 case and make monthly payments to a chapter 13 trustee for 5 years.

Say thank you to your nice Congressmen and to your friendly credit card companies for the so-called %26quot;Bankruptcy Abuse Prevention Consumer Protection Act%26quot;.

With the new bankrupcy laws, can i still get rid of my credit card debt?

depends on the state your in, but yes

With the new bankrupcy laws, can i still get rid of my credit card debt?

Info on the new bankruptcy law is below.

While I agree that the new law really makes it hard on consumers, something had to be done. It was far too easy for people to simply file for bankruptcy and skip out on debts.

Try having someone who ows you $3,000 in back rent file a chapter 7....then 2 days after the court date take out a new mortgage on a house. Happened to me....so I can see both sides of this issue.

With the new bankrupcy laws, can i still get rid of my credit card debt?

Sure, but you pay for it for the next 7 years when it shows up on your credit report and has the potential to damage your ability to obtain credit for the next 7 years.