Credit Card Debt Lender Secured debt Student Loans 
Sawin & Shea
AUGUST 9, 2023
Credit card debt is a huge reason people end up filing for bankruptcy. The incredibly high interest rates alone plus the ease of procuring cards contribute to what can be a vicious cycle of maxing out limits, paying only minimums, and applying for more cards. But can you file for bankruptcy on credit cards only ?
Sawin & Shea
MARCH 7, 2023
This includes debts such as credit card balances, medical bills, personal loans, utility bills, back rent, mortgages, and car payments. However, if you used your home or car as a secured debt with a lender, you may need to return the property to the lender if you don’t pay as agreed.
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Titan Consulting
AUGUST 23, 2020
In many cases, you will lose secured assets such as your home and vehicles. Bankruptcy does not generally discharge debts associated with child support, alimony, tax obligations, or student loan debt. Federally managed student loans received an automatic six-month payment waiver.
Hudson Weir
SEPTEMBER 4, 2023
Qualifying debts include: Credit card debts Loan repayments Overdraft repayments Unpaid rent arrears Unpaid utilities Unpaid council tax Unpaid income tax Buy now, pay later financing Benefit overpayments Money owed to friends and family Several debts cannot be included such as student loans, child maintenance, secured debts, court fines and licences. (..)
Sawin & Shea
APRIL 10, 2024
Chapter 7 is also known as liquidation bankruptcy because it involves liquidating (selling off) non-exempt assets belonging to the debtor to repay creditors and lenders. The bankruptcy trustee will sell your non-exempt assets to pay a portion of your debts to creditors. They cannot take legal action against you or seize your assets.
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