The creditor(s)can file a lawsuit against the debtor and if they win a judgment they can execute it against any nonexempt property owned by the debtor. The preferred method is wage garnishment, followed by bank account levy (even joint accounts can be garnished). Other options to the creditor are the seizure and sale of property that is not considered exempt under state law, including jointly owned property and liens against real property (also if jointly owned)such as a home, vehicle, boat, etc. In the majority of states a forced sale of any real property is possible, including a home if it is not covered by the allowed homestead exemption. Creditor judgments are valid for 10 to 20 years and are usually renewable. A judgment creditor can hold the execution of the judgment until the debtor obtains property that can be seized or can execute the judgment within ten days after it has been awarded.
Filing bankruptcy does not remove a charge off report from a credit card on your credit report. It just adds bankruptcy to your credit report.
After bankruptcy one has to rebuild their credit rating. If or how fast one will get a new credit card depends on the issuing company. Alternatively one can apply for a pre-paid credit card.
You can declare bankruptcy due to credit card debts, yes.
That depends on HOW they notated the account. If they marked it as 'included in bankruptcy', even if you did not list them on your creditor matrix, you probably will not succeed in disputing it, but you can try.
Sometimes credit card charges are not included in bankruptcy. If they are then you will no longer be able to use them.
The bankruptcy will appear on their credit if you include this card in your bankruptcy. If you leave the card off the bankruptcy, it will not effect their credit.
"Whether a debtor keeps credit cards after filing bankruptcy is up to the credit card company. If you are discharging a credit card they will cancel the card unless you reaffirm the debt. Even if you have a zero balance the credit card company might cancel the card."
When in bankruptcy it is not possible to have a credit card. Once the terms of the bankruptcy have been met, some credit card companies will consider issuing a credit card to some people.
Filing bankruptcy does not remove a charge off report from a credit card on your credit report. It just adds bankruptcy to your credit report.
It is possible to recover from a bankruptcy. You should start by getting a secured credit card to rebuild credit. After about seven years you should be able to find a standard credit card that will allow you to get a card.
Yes
After bankruptcy one has to rebuild their credit rating. If or how fast one will get a new credit card depends on the issuing company. Alternatively one can apply for a pre-paid credit card.
You can declare bankruptcy due to credit card debts, yes.
You have to, it is a debt...it is just a secured debt...by the lien on the property.
That depends on HOW they notated the account. If they marked it as 'included in bankruptcy', even if you did not list them on your creditor matrix, you probably will not succeed in disputing it, but you can try.
If you are on the brink of bankruptcy... you probably can't get a credit card. Opps... didn't read that right. Sorry. I really don't know.
A Chapter 7 BK can eliminate credit card debt.