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If your wages are garnished for a credit card debt do you list it as a secured debt when filing bankruptcy?
Wiki User
∙ 2005-09-15 16:10:32
No, credit card debt is always considered "unsecured" regardless of what legal action may have been implemented in the collection of monies owed,
Wiki User
∙ 2005-09-15 16:10:32
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Can you get garnished money back after filing bankruptcy?
No.
Will your credit rating be affected by your partner filing bankruptcy?
If your partner files for bankruptcy and you don't then the bankruptcy will not appear on your credit report. But you will be partly responsible for before bankruptcy filing. Generally filing bankruptcy will affect the credit rating of the individual who filed it.
If a credit card company has sued you and the judge has your wages garnished can you include that credit card in your bankruptcy?
Yes! That's one of the most important parts of bankruptcy filing, the Automatic Stay, which STOPS garnishments, foreclosures, etc immediately. To the extent that your wages have already been garnished, you will not get that money back.
How long have to apply for a credic card after bankrupt?
You can apply for a credit card immediately after filing for bankruptcy. You are more likely to receive a secured credit card after filing however. If you can wait 6-12 months after filing, you will have a better chance of receiving a positive response.
Should you keep paying your credit card bills if you are going to file bankruptcy?
No. You should use your funds to pay your secured debts, such as home mortgage or car loan, if you intend to keep it after filing for bankruptcy
If filing bankruptcy do you stil have to make payment on credit cards?
No, do not make any payments until told to to so. Then it will only be the secured debts ( house-car ) that you will be keeping.
Does bankruptcy ruin your credit?
This is an incorrect assumption that leads many people to avoid filing for bankruptcy. They fear that a bankruptcy will ruin their credit for a long time and that they will not be able to use credit, rebuild their credit or purchase a home in the future. The reality is that the majority of the people who are considering bankruptcy, already have poor credit, due to late payments, repossessions and foreclosures. Further, most people who file for bankruptcy can rebuild their credit to a relatively good level after two years. This depends significantly on what they do after filing for bankruptcy. It is important that you work toward rebuilding your credit after filing for bankruptcy.
What bankruptcy information should you know before you consider filing for bankruptcy?
Bankruptcy is the filing of a petition that claims your assets, and your inability to pay for them. Bankruptcy severely effects your credit, and is present on your credit for 7 years. During this time getting credit cards or loans can be very difficult.
Can you get debt relief after filing bankruptcy?
Bankruptcy IS debt relief. After filing bankrupt, you HAVE no more debts. No credit, either, but that's the way it works.
Does filing bankruptcy raise your credit score?
In some cases, it actually does. This really depends on a lot of factors and variables, but I have seen credit scores increase 100+ points after filing a bankruptcy.
If you file bankruptcy will that remove a charge off report from a credit card?
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.
Can you charge on a credit card that is in your bankruptcy AFTER actually filing bankruptcy?
"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."
