Essentially, it’s a question of dilemma for a friend who allowed her family to use her credit cards in promise to pay on it. As it naturally goes, her family did not pay on the credit cards. Can charge-offs be included in the bankruptcy as well? Thank you in advance.
#1 by Dawn H on 12/01/2011 - 6:15 AM
Due to bankruptcy reform laws, filing Chapter 7 bankruptcy is significantly more complicated. Your friend should find an attorney in her area to discuss her options – many times the initial consultation is free.
Below is a link to a resource she might find helpful. It has information regarding Florida bankruptcy exemptions, approved credit counseling/debtor education agencies, Chapter 7 income requirements for Florida filers, and more.
Any debt (including charge-offs) owed by your friend is included in the bankruptcy filing, although certain types of debt (i.e. student loans, child support, etc.) will not normally be discharged and must still be repaid.
Best of luck to her…