According to the Tampa bankruptcy experts, filing for bankruptcy can actually have a positive effect on your credit card debt.This article was originally distributed via 24-7 Press Release Newswire. 24-7 Press Release Newswire, WorldNow and this Site make no warranties or representations in connection therewith.
TAMPA, FL, June 24, 2014 /24-7PressRelease/ -- The Tampa bankruptcy attorneys
at Clark & Washington wish to inform the public of the effects of bankruptcy as related to lawsuits and judgments for credit card debt.
If a creditor ever tries to sue you for credit card debt and obtains a judgment against you, there can be some serious consequences. There is a chance that your wages can be garnished to collect on the debt owed. Although there are limits to how much of your wages can be garnished, nobody likes to have their money taken away involuntarily. Fortunately, if you find yourself in a situation where you owe creditors large amounts of money and you can't afford to keep up with your payments or have a judgment against you, bankruptcy could alleviate some of your problems.
If there is a lawsuit or judgment for credit card debt against you, Clark & Washington can help. Filing for Chapter 7 bankruptcy can result in the cancellation of all your dischargeable debts. Dischargeable debts usually include credit card debt, medical debts, payday loans and bank loans. Other debts such as car notes and mortgages still have to be paid if you would like to keep the property.
If your income is too high to qualify for Chapter 7 bankruptcy, Chapter 13 also has benefits. If for any reason you become delinquent on your home loan, Chapter 13 can be utilized to make your payments current and catch you up. Chapter 13 bankruptcy can even help avoid repossession and pay car and truck loans.
To learn more about what bankruptcy can do for your credit card debt and other debts, visit http://www.cw13fl.com
About Clark & Washington:
Established in 1983, Clark & Washington is now one of the leading bankruptcy filers in the Southeast. They have locations in Georgia, Florida and Tennessee. Clark & Washington specializes in personal chapter seven and 13 bankruptcy. They offer honest, helpful legal advice to those experiencing financial hardships.
For more information, visit http://www.cw13fl.com
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For the original version on 24-7 Press Release Newswire visit: http://www.24-7pressrelease.com/press-release/tampa-bankruptcy-attorneys-clark-amp-washington-discuss-how-bankruptcy-affects-lawsuits-and-judgments-for-credit-card-debt-387934.php