It is possible to alleviate the stress of credit card debt in a few months by filing for Chapter 7 credit card bankruptcy. There is no automatic entitlement to this type of bankruptcy and one must pass a means test and surrender any non-exempt assets such as a holiday home, jewelry or other valuable collection so that they can be sold and the proceeds used to pay off creditors. It is essential that one seeks legal advice from a bankruptcy attorney before going ahead with any type of bankruptcy claim and consider the alternatives, if there are any.
The process for claiming bankruptcy on credit cards is as follows:
1.
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