No, credit card debt is always considered "unsecured" regardless of what legal action may have been implemented in the collection of monies owed,
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.
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.
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.
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
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.
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.
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.
Bankruptcy IS debt relief. After filing bankrupt, you HAVE no more debts. No credit, either, but that's the way it works.
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.
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.
"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."