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Credit card debt can be discharged with Chapter 7 bankruptcy

Many people in Oregon are facing credit card debt. Some of these people may be tempted to ignore their credit card payments. If you ignore your payments, however, the credit card company may come after you. Fortunately, there are ways to get out of debt.

What do you do when a credit card company decides to sue you? The first thing you must do is check to see if the debt you owe is in the correct amount. When an account is sent to collections, penalty fees and extra interest could be added to the amount that is being collected. If the credit card company is unable to account for each tacked on charge, you may be able to get those charges removed from your bill. If you feel that you are the victim of credit card fraud and that the debt amount is incorrect, you may want to speak with an attorney. 

If the amount of debt you owe is correct, you have two options. One option is to get together enough money to pay off at least a large portion of the debt. According to a debt settlement expert, most people are required to pay off at least 60 to 100 percent of the amount owed. If you are unable to gather this amount of money in a short time, you may want to consult with an attorney regarding filing for Chapter 7 bankruptcy.

If your credit card company sues you, the last thing you want to do is ignore it. This will only compound the problem. If you are facing overwhelming debt and you are unsure about what to do, a bankruptcy attorney may be of assistance. 

Source: ABC News, “What to Do If You’re Sued By Your Credit Card Company,” Gerri Detweiler, August 3, 2013

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