Credit card and student loan payments do not factor in to the analysis for determining Chapter 7 eligibility. It seems not a day goes by that I’m not trying to explain to a potential client why their payments to debts owed to unsecured creditors do not count in their budget in determining eligibility to file…
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Los Angeles Bankruptcy Blog: Current issues, comments, questions and answers in bankruptcy law.
Category Archives: credit card debt
Bankruptcy Doesn’t Affect Co-Signers’ Obligations
The bankruptcy of one party does not affect the liability of another party, whether they be a co-signer or co-obligor on the debts. Bankruptcy discharges the obligation to pay on a debt; it does not eliminate the debt itself.
You Can Still Eliminate Credit Card Debts and Taxes in Chapter 7
You can still get rid of credit card debt and certain taxes in Chapter 7 bankruptcy cases