When a person files for bankruptcy,?
When a person files for bankruptcy,do the credit card companies/ banks (or any other institution that person may owe money to) collect on the debt? For instance, if John has acquired ,000 in Credit Card debt. Once he files bankruptcy, does the Credit Card Company lose out on the money or does it some how acquire some or all of it? Is foreclosure and seizure of property after bankruptcy done for the purpose of paying off any debt?