Credit card fraud occurs when purchases or charges are made on a credit card without an intent to pay back the creditor. At times, an unauthorized user may make these charges on a victim’s account. Other times, the account holder willingly abuses their line of credit and then tries to renege on their agreement to pay. Most of the time, individuals make purchases with the intent to pay back the creditor but can’t keep up with payments. If you file for bankruptcy in New Jersey, then the issue of whether credit card debt was fraudulent or not makes a huge difference in the amount you have to pay back.
Any debt that arises from identity theft or unauthorized credit card fraud will be discharged during your bankruptcy process. Additionally, filing for bankruptcy will prevent identity thieves from taking out any additional lines of credit in your name. When you have used your card fraudulently, however, the courts may not discharge your debt. In these cases, you will be required to agree to a payment plan. You may be required to pay back the full amount or a fraction of these debts.
When you are considering filing for bankruptcy, it’s important to have a legal representative working with you that will ensure your rights are maintained throughout the legal battle. Joel R. Spivack works exclusively with bankruptcy law, so you can trust that his compassionate legal advice will work for your future financial security. Filing for bankruptcy is often stigmatized, but this legal remedy is designed to relieve debtors who are struggling to pay back their debts. There is nothing wrong with utilizing the legal remedies available to you. If you are interested in learning more about how bankruptcy can help relieve credit card fraud debt, then reach out to our law office at 856-488-1200 or by filling out our convenient online contact form.
The articles on this blog are for informative purposes only and are no substitute for legal advice or an attorney/client relationship. If you are seeking legal advice, please contact our law firm directly.