Yes, you can be sued for unpaid credit card debt even if you are retired and living on a fixed income such as Social Security or a pension. Here are the key points to consider: 1. Lawsuit for Unpaid Debt If you fail to pay your credit card debt, creditors or debt collectors can file […]
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When you stop paying your credit cards, the consequences can escalate over time and affect your credit score, finances, and even legal standing. Here’s a breakdown of what can happen: 1. Late Fees and Increased Interest Rates (1–30 days late) Late Fees: Most credit card companies will charge you a late fee for missing a […]
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Using your credit cards just before filing for bankruptcy can be risky and may raise concerns. Here’s what you need to consider: Potential for Fraud: If you make significant purchases or cash advances on your credit cards shortly before filing, the bankruptcy court or your creditors may view these transactions as fraudulent. This is especially […]
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Running up your credit cards before filing for bankruptcy can be problematic. Here’s why: Potential Fraud: If you make large purchases or take cash advances on your credit cards shortly before filing for bankruptcy, the court or creditors may view this as fraudulent behavior. They could argue that you never intended to repay these debts, […]
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Yes, most of your credit cards will likely become null and void after you file for bankruptcy. Here’s how it typically works: 1. Chapter 7 Bankruptcy: Debt Discharge: In Chapter 7 bankruptcy, most of your unsecured debts, including credit card debts, are discharged. This means you are no longer legally obligated to pay those debts. […]
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helping good people with bad debt
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