| A Chapter 13 bankruptcy will enable you to affordably payoff credit card debts within your Chapter 13 payment plan. In many cases, you will only have to pay a portion of the total credit card balance and after your payment plan is completed, any remaining credit card debts will get discharged. The amount of your credit card debt that you actually pay within your plan will depend on your household’s disposable monthly income after taking into consideration the amount of money you need for necessary living expenses. Once you file for Chapter 13 bankruptcy, the credit card companies can no longer charge you late fees or high interest rates. |
