Legal Question in Bankruptcy in Ohio

credit card debt and chapter 7

I am considering filing chapter 7 and I'm wondering about credit card debt - is property purchased with a credit card subject to being reposessed to pay off the debt? An example of this is a motorcycle I purchased last year - I own clear title on the motorcycle now, but half of the money I used to buy the motorcycle outright was put on a credit card. Also, does having previously filed bankruptcy affect in any way filing for a second time or the way the bankruptcy might be discharged?


Asked on 12/30/02, 10:32 am

1 Answer from Attorneys
Jay Maynard Attorney at Law

Re: credit card debt and chapter 7

Most of the time, all credit cards are considered "unsecure" debts, which means they can be discharged in bankruptcy. I don't know what paperwork you signed when you purchased your motorcycle. Look over your papers and if there is no clause stating that the amount you charged to your credit card is secured by the motorcycle, you should have no problem discharging it.

Secondly, you can only file a Chapter 7 bankruptcy once every 7 years. However, if you previously filed a Chapter 13, you need to wait 180 days (6 months) before filing a Chapter 7.

Please feel free to visit my website at http://www.jaymaynard.com and contact me directly if you have any additional questions. Since you are in Ohio, I would be more than happy to assist you in your filing.

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Answered on 12/30/02, 5:48 pm


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