subject: Credit Card Debt, Bankruptcy Protection, and the Hazards of Eliminating Loans Through Chapter 7 [print this page] Again, this is a wholly separate issue from the question of income. You will not be able to get beyond the question of gross earnings unless you happen to pass a further Internal Revenue Service means test based upon provable expenses deemed acceptable by the most recent legislation and household costs of living as (under, in most situations) estimated by the federal tax authorities. Owning a well appointed home or keeping care of family heirlooms will typically mean nothing more to folks attempting credit card debt bankruptcy than that you are going to see them wrenched from the family's grasp by the government and watch as they are handed over to strangers for a mere fraction of their true value. Regardless of how anxious you may be to rid yourself of all your outstanding unsecured burdens, there is such a thing as a fate worse than debt.
Credit Card Debt, Bankruptcy Protection, and the Hazards of Eliminating Loans Through Chapter 7
