With the fall of oil prices and the layoffs in the oilfield times are going to get tuff.
Many are under the impression that credit cards cannot be discharged, meaning that you will no longer owe the credit card debt, since the Bankruptcy laws were changed in 2006. This is not true. A chapter 7 Bankruptcy still allows the discharge of credit card debt in its entirety. Some who’s wages are above the medium income may not be eligible for a chapter 7 but a Chapter 13 bankruptcy may still offer relief.
In these hard times it is easy to get behind on house notes. A chapter 13 will allow you to stop any pending foreclosures and to reorganize your debt into a monthly note.