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Answer: It is not true. More than a decade ago the Bankruptcy and Insolvency Act or Bankruptcy Act as it was previously called was amended. There used to be a provision in the Bankruptcy Act that "necessaries of life" would survive a bankruptcy. That provision was repealed and it no longer applies. Credit card debts are forgiveable in a bankruptcy even if they relate to food, clothing or other living expenses.
Labels: bankruptcy debts
Posted on Monday, February 08, 2010
posted by Questions @ 12:30 PM
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