Will I lose my credit card purchases in a bankruptcy? 4 Answers as of August 27, 2010

When people file for bankruptcy, do they lose all of the possessions that they have purchased on their credit cards?

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Diefer Law Group, P.C.
Diefer Law Group, P.C. | Abel Fernandez
No, you will not lose your credit card purchases if you file for bankruptcy.
Answer Applies to: California
Replied: 8/24/2010
Law Offices of Michael J. Berger
Law Offices of Michael J. Berger | Michael J. Berger
In general, debtors do not lose any of their credit card purchases when they file bankruptcy. This assumes that the purchases are unsecured (as in a visa or mastercard) and not secured (like a Best Buy). This also assumes that the items purchased are exempt under state law (as they are 99 percent of the time). For specific advice about your situation, call me.
Answer Applies to: California
Replied: 8/23/2010
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