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Debt Relief – Insolvency – Bankruptcy Information » Bankruptcy Help » If someone files bankruptcy and all their credit card debt is discharged?

If someone files bankruptcy and all their credit card debt is discharged?

Is this like a government bailout? After all a chapter 7 bankruptcy is a federal case. So if large corporations get bailed out of their financial mess then why not individuals who are in need of help?

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One Response to "If someone files bankruptcy and all their credit card debt is discharged?"

  1. Meghan says:
    You could look at it as a government bailout, but there are consequences to those actions. If your debt is gone because of bankruptcy, you can no longer get credit for almost a decade without paying high interest rates, if at all.

    Individuals in need of help do get help, but there also has to be a change of habits. The government is also requiring a change of habits from companies recieving LOANS from the government to stay afloat and provide vital goods and services to the American people.

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