Vermont Bankruptcy Law (VT)

Using Vermont law to eliminate credit card debt and other unsecured liabilities

For most Americans today, owning a credit card is essential to conduct daily transactions, whether buying necessities, alternative identification, renting a hotel room, or purchasing simple services online. Comprehensive, non-partisan studies have proved that over 85% of all US citizens use credit cards responsibly and do not abuse their charge privileges recklessly. Over 80% of all Vermont bankruptcy law cases are cause by unanticipated emergencies. Foremost, divorce, illness and injuries account for the vast majority of all cases filed. These cash flow emergencies are simply too much for most Vermont residents to bear, and when already stretched to precipice, cause a rapid fall.

Under Vermont law, credit card debt is considered a general unsecured claim if filing Chapter 7 or 13. The procedure for discharging these types of claims is the most simple, and requires that debtors merely include debts, addresses, account numbers, and amounts owed within schedules filed with the court. Most credit card companies do not bother contesting discharge because of the limited number of defenses available. Overall, credit card debt is the easiest type of liability to eliminate when filing.