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Wednesday, December 19, 2007

Free Related Information About Credit Card After Bankruptcy







Putting expenditures on a credit card often results in large credit card balances. The person won't find himself in a mess if he has money to pay the credit card. It may be necessary to file for credit card bankruptcy.



If the agency that gave you a credit card believes you gave them false information, they will question your bankruptcy claim. Believing you have illegally utilized your credit, you may still be liable for your debt to the issuing agency. You are liable for your balance if the bank disagrees with your bankruptcy filing. Accusing the individual of giving false information will be done by the issuing agency at the hearing.



An issuing bank can easily say you got your credit card by falsely stating your intention to pay for your purchases. Banks will dispute a credit card bankruptcy for a variety of reasons. A recently acquired credit card, or increased spending prior to filing for bankruptcy, will be two reasons the issuing bank uses to justify their challenge. An individual has provided yet another reason if he filed for credit card bankruptcy shortly after asking for a large cash advance.



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An indication of your plan to defraud your creditors can be established from the preceding actions. Waiting for six months between the time you last use your credit card and when you file for credit card bankruptcy is best. A lack of credit card utilization is a viable indication you are low on funds. File for credit card bankruptcy only after you have sat and talked it over with your lawyer.



Allowing you to see what options are available to you will be a benefit of discussing your situation with a lawyer. When undergoing credit card bankruptcy, you add a bad credit label to your public record. You will now be in a position to prove to many businesses that you are willing to pay them the higher interest rates they can ask for. Being willing to consider bankruptcy is not an easy choice but may well be your only one if you are drowning in debt.



After you have convinced the courts of your financial hardship, you will be able to meet with your creditors and lawyer and work out a repayment plan.



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Filing for credit card bankruptcy is occasionally necessary. The company you received the credit card from may argue with your bankruptcy claim, usually if they believe you received it fraudulently. Refusing to forgive the money owed is an option when the bank that issued your card feels you used it dishonestly. A dispute over bankruptcy filing will result in the individual be responsible for paying any outstanding monies. Accusing the individual of giving false information will be done by the issuing agency at the hearing.
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2 Comments:

  • At 6:15 AM, Anonymous Anonymous said…

    BKforum.com is a support community for all your financial hardships. Life has its ups and downs, and in this community, we will try to help each other deal with the downs and celebrate the ups.

     
  • At 10:33 AM, Anonymous Anonymous said…

    The most-asked question: 'How should debts included in bankrutpcy be showing on my credit reports ?'
    The answer:
    All debts that were included in your bankruptcy should be reporting with a ZERO balance, show ZERO due, show nothing past due after the date of your bankruptcy filing, and should be noted as "included in bankruptcy' or similar verbage.

     

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