Legal Question in Bankruptcy in Indiana

Re: Is the bankruptcy reform act dead?

Straight and to the point huh? No the reform act is not dead. The House signed off on it a few months ago and its sitting with the Senate. There are provision problems and although it's unlikley the Senate will sign off on it this year, it is still alive and not likely to go away.

As far as if all credit card debt can be done away with. The answer is generally yes, unless the card has been used recently and the creditor files an action against you, or you have too much consumer debt and had no ability to pay or there weren't any changes in your circumstances that dictated having so much debt, or the credit card may be secured against some of the items you purchased. So generally yes, credit card debt is dischargeable in a bankruptcy, but there are so many ways that it won't go away as well. That is why it is advisable to talk to an attorney before filing.

Re: Is the bankruptcy reform act dead?

Last year's legislation is "dead." But similar legislation is pending this year, and no one wants to predict whether it will pass or fail. So probably all your credit card debt is dischargeable, but you should consult with an attorney before filing, as there are a few exceptions.