QUESTION
Can I still file after I consolidated my credit card debt thru a third party program to get on an affordable payment plan and living expenses?
Asked on Oct 21st, 2016 on Bankruptcy - New York
More details to this question:
But my situation has changed and can no longer afford the monthly payments.
9 ANSWERS
You can file a bankruptcy but depending on WHEN you took out the consolidation loan, you may not be eligible to ELIMINATE this debt in a bankruptcy. See 11 USC sec 523 for more information.
Answered on Nov 18th, 2016 at 4:53 AM
Yes, you just have to report the payments you made to the third party. It's no problem.
Answered on Nov 18th, 2016 at 4:53 AM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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Yes, you can still file bankruptcy. Most credit card consolidation programs don't work and the people wind up filing bankruptcy.
Answered on Nov 18th, 2016 at 4:52 AM
1 Award
Absolutely. You should immediately stop paying on the consolidation program and ask them for a refund.
Answered on Nov 18th, 2016 at 4:52 AM
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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Yes.
Answered on Nov 18th, 2016 at 4:52 AM
Yes, you can still file bankruptcy and discharge that debt. Just be sure you list all of the original creditors as well as the consolidation company in the creditor list.
Answered on Nov 18th, 2016 at 4:51 AM
Yes, a lot of people find that these plans are not working so then they stop that and file for bankruptcy.
Answered on Nov 16th, 2016 at 8:44 AM