By: Daniel Stone
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Can I file for bankruptcy even if I am current on my credit cards?
Credit card debt article written by Columbia, SC and Florence, SC attorney Daniel Stone
A significant number of my potential bankruptcy clients are current on their credit card payments. I am often asked by my potential clients if they can file for bankruptcy protection even though they are current on their payments. The answer is Yes. Actually it is better to file when you are current with your credit card bills until waiting a year after making no payments. Why? Because if you file for bankruptcy protection when you are current with your credit card and other bills, you will only take one hit on your credit – the bankruptcy filing. If you wait till you have missed a year of payments on your bills, your credit score will not only take the bankruptcy hit, but also the months and months of negative reporting from your credit cards.
I am also asked by potential clients if I can predict what their credit score will be post filing. In the past there has been no way to predict a credit score in the future. However, Best Case bankruptcy software has a computer program that can help provide a rough idea of what a bankruptcy filer’s credit score will be in the future. If you are interested in this program, please feel free to call me to set up a free consultation.