Credit Card Debt
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Thomas' Story


  • Divorced
  • Lost house to foreclosure
  • Had a second mortgage
  • Over $40,000 credit card debt

Thomas was recently divorced, and lost his home to a foreclosure. Despite the fact that he no longer owned the house, Thomas was still responsible for a second mortgage on it. The creditor was threatening to sue him and garnish his wages. In addition to the second mortgage, Thomas had significant credit card debt. The creditor calls were driving him crazy, and his wages of $2400 per month were no longer enough to pay both his debts, which totaled over $40,000, and his day-to-day living expenses.

Thomas paid $100 to retain The Bankruptcy Company, at which point he was able to refer all of his creditors’ calls to our office to handle for him. Since Thomas met the income and expense thresholds established in the bankruptcy laws, he was able to file a Chapter 7 bankruptcy. His total cost for this was $1348, on which he made monthly payments to The Bankruptcy Company. A few months after his case was filed, Thomas’ debts of over $40,000 were eliminated, and he can now once again afford his monthly bills.


Nathan & Sara's Story


  • $75,000 medical debt & student loans
  • Previous Chapter 7 Bankruptcy

Nathan and Sara had $75,000 in medical bills, credit card debt, student loans, and other bills that were overwhelming them, but they had filed a Chapter 7 bankruptcy several years ago, and so were not eligible to file another Chapter 7. They scheduled an appointment with a The Bankruptcy Company attorney to learn about their options. What no one knew at the time was that they would soon have difficulty paying for their home as well.

While Nathan & Sara could not file another Chapter 7, they could file a Chapter 13 to repay just as much as their bankruptcy schedules showed they could afford, and discharge the rest. For a payment of just $110 per month for three years, they were able to eliminate all but their student loans. (Although student loans are not dischargeable in the bankruptcy, they were deferred for the three years that the bankruptcy was in effect, allowing Nathan & Sara time to get back on their feet financially.) Over the course of the three year Chapter 13 plan, Nathan & Sara spent about $4385 and eliminated $30,000 in debt. In addition, through this process they avoided any additional interest, late fees and penalties which would otherwise have been substantial. Unfortunately, during the course of the bankruptcy, problems arose with their house and with their ability to continue to pay the mortgage. The Bankruptcy Company was able to add their house to their Chapter 13 plan, surrendering the house and entirely eliminating the $13,000 deficiency payment that they would have still owed to the bank once the house was gone.


Jim's Story


  • $175,000+ annual salary
  • Gambling addiction
  • $40,000 credit card debt
  • Wage garnishment by credit card company

Jim had a healthy salary in excess of $175,000 annually. Unfortunately, extreme personal hardship, including a gambling addiction, resulted in credit card debts that totaled about $40,000.00. Three credit card companies served him with lawsuits. When he lost, Jim would have a wage garnishment issued to his employer, and would need to repay not just his current balance, but ongoing interest and legal fees as well.

Jim was able to file a Chapter 13 repayment plan, which immediately stopped the lawsuits and the creditor phone calls and letters. The credit card companies were not allowed to add additional interest and penalties to his balance while he was in the Chapter 13. His Chapter 13 plan payment was $750.00 per month for five years, which allowed him to repay his $40,000.00 credit card debt in full, and at a rate he could afford. Jim is getting help for his addiction and is able to move forward with his life.



The Bankruptcy Company is a debt relief agency helping people file bankruptcy relief under the Bankruptcy Code. The choice of an attorney is an important decision and should not be solely based on advertisements.