Can I erase all of my credit card debt with bankruptcy?

[petersneaker]

What is the name of your state? Massachusetts

I began incurring credit card debt about 20 years ago. For many years it stayed steady at about $18000. For the last several years, I have written balance transfer checks into my checking account to pay the minimum payments. I used a little of the money to pay bills also. My unemployment which I used to pay my rent ran out a year ago, and since then I have been writing balance transfer checks to pay my rent, minimums and bills.

At this point the debt is about $40,000. Even if I leave my apartment and go to a shelter, I'll still have about $1000 a month in credit card minimums, so if I'm able to find a job, all my money will go to the debt. Living in a shelter and giving all my money to pay off my debt seems a lot like a modern day debtors prison. Is there any way to avoid this?

If I file bankruptcy now, how much of the debt can be erased? Have I committed a crime by doing what I've been doing, and if so, what will be the consequences?

Any information is much appreciated. Thanks.

[Who's Liable?]

Yes, it will discharge ALL of your credit card debt, along with any and ALL debts you owe to whoever has you listed as a creditor... EXCEPT Federally backed student loans and any fines/fees associated with committing a felony...

This means you must list ALL your debts, as you cannot pick and choose what you want discharged... If you have ANY debts that are in good standing(good payment history) they will be notified of your impending BK, and they have a choice whether or not they want to keep you as a customer...

Consult an BK attorney. Most give a free initial consulation. Bring information on ALL your debts, and if you're not sure of them, bring them anyway...

[garrula lingua]

...I think Donald Trump lives that way, also.

Have you considered becoming a monk & notifying your creditors that you have taken a vow of poverty ?

[Carrie&Brian]

Bankruptcy law has changed. You may be required to utilize credit counseling first, and you may be ordered to pay back some of the debt, depending on several factors.

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