Credit Card Debt Continues to Climb

As a result of what has quite possibly been the worst economy we have seen in this country in the last twenty years, I am seeing personal credit card debt reach new heights.  As an Indianapolis bankruptcy attorney, I have seen more and more clients who have turned to their credit cards to keep the lights on and food on the table. 

If your credit card debt has become unmanageable or you are simply not able to pay the cards as a result of a job loss, bankruptcy may be the right answer for you.  However, there are some concerns to watch out for as we create a plan of action. 

If you have incurred a substantial amount of credit card debt within a certain amount of time before the filing of your case, you may be faced with a creditor trying to stop you from discharging the debt.  This is especially true if you incurred the debt after you knew or reasonably should have known that you could not afford to pay the debt.  If you used your credit cards to pay tax obligations you may be faced with a similar discharge challenge. 

This is why it is critical to work with my bankruptcy office to create the best course of action.  I can help you understand the potential pitfalls you would face in filing for bankruptcy.  I can also show you how the date of filing can reduce or eliminate the odds that a creditor may try to raise an objection to you discharging the debt you owe to them. 

Contact my office today at 317-566-2080 if you have questions or need more imformation on this or other bankruptcy related matters.  You can also visit my website at www.vanwinklelegal.com.