Our Attorney-authored Blog, focusing on Bankruptcy in North Carolina.
From the Glossary
Credit cards are one of the most common forms of unsecured debt. They are revolving lines of credit, where money is borrowed and repaid on an ongoing basis. Oftentimes, a combination of extraordinarily high interest charges and many fees will result in debtors having credit card balance far greater than the amount they originally borrowed. Occasionally, the age of the credit card debt and what was purchased will matter in bankruptcy proceeding. More...
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