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If you are filing for bankruptcy will they take away your assets for unsecured credit cards?
Feb 27, 2009 by Sean P | Posted in Personal Finance
when you file for bankruptcy will they take your assets in payment for your unsecured credit cards?
They would have to see what assets you had yes. You want to be very careful doing that, it will really screw up your credit, and a lot of companies won't touch you after wards.
P.S as the person above me states, they won't for the unsecured cards,
scruff | Feb 27, 2009
No. That's why they're called "unsecured".
mX2007 | Feb 27, 2009
How do i obtain an UNSECURED credit card after just going through bankruptcy.. I am Canadian if it makes a dif?
Sep 18, 2009 by matty_2049 | Posted in Credit
wondering what companies i can look to to obtain an unsecured credit card with poor credit (bankruptcy)... ive exhausted banks, but are there any private companies? or maybe a bank i havent tried?
The fact you say you've exhausted banks makes me think you are a user of the system and in turn create higher interest rates for us all. Get a SECURED credit card and don't get back in the mess you were already in.
Pleasegetinformed | Sep 18, 2009
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08.09.11
Top Articles to Help You Lead A Debt-Free Life Debt Settlement : Debt settlement programs use a third party to negotiate lower balances and interest rates on unsecured debt. This type of debt management plan helps provide consumers an alternative to bankruptcy while reducing your outstanding debt. Debt Consolidation : “Debt Consolidation” is one of the most commonly misunderstood and misinterpreted personal finance strategies that consumers inquire about all the time. While some view it as a method of taking on new loans, others see it as a debt relief
... credit card debts which Hill incurred using her mother's credit cards. The
other unsecured debts are separately classified and are to be paid nothing, ...
Creator: Mitch Wakem | Business & Economics - 2008-10
This is especially true if you have recently filed for bankruptcy or if you have
low FICO credit scores. ... However, credit cards offer unsecured ...
Publisher: Atlantic Pub Co
Exactly When Could You Declare Bankruptcy Chapter 7? | dfstax ...
by gerard1
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Usually some major thing has happened so they can't keep up with expenses or excessive use of credit cards.” The Joneses said when the casinos moved in, they saw some increase in bankruptcy filing, but most occurred when the economy took a bad turn.
However, the total amount generated dropped to more than $73.3 million in 2010, down from the more than $84.5 million the previous year, due in large part to new federal regulations on the way those under 21 can obtain new credit cards.
Transfer the credit from high APR credit account to a lower APR. Consolidate the credit from multiple credit cards into one. If possible take an equity or loan against a secured asset which has a lower APR to pay off the credit card debt.
Legally eliminate debt- you are under no compulsion to pay of an unsecured debt and even when it comes to credit cards, remember you sign in your own name with access to your account to the financial institution that is giving you credit- so in effect
Chapter 7 bankruptcy. This is designed for debtors unable to pay their existing debts. Chapter 7 eliminates many existing debts. You wipe out all of your unsecured debts. These include credit cards, personal loans and medical bills.