Do I Have to Give Up My Credit Cards?

It depends. Can you afford to keep them? Typically the goal of a Chapter 7 is to liquidate a debtor's assets and keep only what the debtor needs to rebuild his financial life, i.e. his home and his vehicle.  One of the largest benefits of bankruptcy is discharging unsecured debt, such as credit card debt, and starting over fresh. Although you legally have the right to reaffirm credit card debt in order to keep your credit card, it may not make the most financial sense.

One of the most important parts of bankruptcy is determining what to discharge and what to reaffirm, if anything.  Fears | Nachawati Law Firm can help.