When the recession hit and more and more people found themselves in a position where they felt bankruptcy was the only option, bankruptcy filings hit an all-time high. At the same time, bankruptcy laws and regulations changed throughout the country. For those in Florida who feel that they are being strangled by credit card debt, it may come as a relief to know that unsecured debt can still be discharged in most types of bankruptcies.
Chapter 7 bankruptcy in particular is one option for those who have a great deal of unmanageable credit card debt. First, one must determine eligibility for Chapter 7 bankruptcy through the means test. If eligible, it is likely that all credit card debt can be discharged, meaning that credit card debt will not have to be repaid.