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How much credit card dept can be whipped out?

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    How much credit card dept can be whipped out?

    Subject says it all. I have the following CC dept.

    1. Bank of America $ 12000
    2. Captiol one $5000
    3. Furnature row $4000
    4. Sears $3000
    5. Bank CC $3000
    TOTAL $27,000K

    Also, what happends on a credit report after a bankruptcy is filled? What happends to all of the credit card issuers that I no longer pay as it pertains to my credit report? Thanks as always!!

    #2
    Depends

    [B]Subject says it all. I have the following CC dept.

    1. Bank of America $ 12000
    2. Captiol one $5000
    3. Furnature row $4000
    4. Sears $3000
    5. Bank CC $3000
    TOTAL $27,000K

    Also, what happends on a credit report after a bankruptcy is filled?
    Your scores go down down down, depending whether you are in Ch13 (sometimes the report says "wage plan earner" something like that or "BK in process")

    What happends to all of the credit card issuers that I no longer pay as it pertains to my credit report?
    They "fire," you. They stop allowing use of your credit.

    Others will chime in here to let you know, mine is just a simple answer. CMIYC
    July 2006: Filed Ch13 :blink:
    Oct 2006: Converted to Ch7 :clapping:
    Jan 2007: DISCHARGED :clapping:
    Nov 2007: CLOSED :yahoo::yahoo::yahoo:

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      #3
      Originally posted by Bit_Image View Post

      Also, what happends on a credit report after a bankruptcy is filled? What happends to all of the credit card issuers that I no longer pay as it pertains to my credit report? Thanks as always!!
      All of your debt can can wiped out, IF you qualify for a chapter 7. If you qualify, your old accounts should be listed as having a zero balance and "Included In Bankrupty" or IIB in short. These will be derogatory accounts, however they are better than having derogs that have unpaid balances.

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        #4
        I discharged $71K worth of cc debt spead over 14 different accounts.

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          #5
          Does this information always stay on my credit report? Even after 10 years??

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            #6
            Everything comes off after 10 years.

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