Law Office of James L. Keenan

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James Keenan Law

Contact me for a free consultation!

PH 916.448.6923

TXT 916.715.6145

EMAIL James now!

Contact me for a free consultation!

PH (916) 448-6923

TXT (916) 715-6145

EMAIL James now!

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Sacramento Bankruptcy & Debt Relief Attorney

Get news, tips and information about bankruptcy filing and debt relief/elimination in Sacramento

Line of credit: can bankruptcy eliminate (discharge) this type of debt?

Line of credit: can bankruptcy eliminate (discharge) this type of debt?

Lines of credit can be eliminated, or discharged, through a bankruptcy filing. Lines of credit are often unsecured and can be eliminated entirely through a bankruptcy. Unsecured lines of credit are like credit card debt–minus the plastic. Like credit card debt, unsecured lines of credit are common culprits causing consumer bankruptcy filings.

If a line of credit is secured, that debt may need to be repaid even if you file for bankruptcy. May is the operative word here, though. If a line of credit is secured, most commonly against a home (home equity line of credit/HELOC), that debt can still be eliminated through a bankruptcy. It depends on the value of your home, how much you owe on other mortgages and the type of bankruptcy filed.

With the explosion of home equity lines of credits (HELOC/second mortgages) in recent years past, this is a potentially vital factor in a bankruptcy evaluation, as well as a common cause of bankruptcy filings here in Sacramento.

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Law Offices of James L. Keenan

2600 H St. Sacramento, CA 95816

Phone: 916-448-6923

Fax: 916-442-6524


Office Hours: Mon – Fri 8 a.m. – 5:30 p.m.

Evening Appointments Available

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Disclaimer: The legal information presented at this site should not be construed to be formal legal advice, nor the formation of a lawyer or attorney client relationship. Any results set forth herein are based upon the facts of that particular case and do not represent a promise or guarantee. Please contact James Keenan personally for a consultation on your particular matter. This web site is not intended to solicit clients for matters outside of the state of California.