Article written by Columbia, SC bankruptcy attorney Daniel Stone

For many bankruptcy filers, the idea of living life without a credit card is scary. How do you rent a hotel room or purchase a gift on-line without one?  I can tell you from first hand experience that you can live without a credit card. In fact I have lived without a credit card for over seven years. How?  Remember that debit cards are accepted by merchants in the same manner as credit cards. When a merchant asks for my credit card number I give them a debit card.

In addition, many of my clients worry about the unknown and want to have a credit card for emergencies. This is why I preach to my clients that they should follow the principles of Dave Ramsey. Dave preaches that we should all have enough cash money saved to last for 6-9 months if we were to lose a job or have an emergency.

Finally, if you really need a credit card, I recommend getting a secured credit card. A secured credit card is your money in the form of a deposit. Usually after a year or two the lender will give your deposit back after you have demonstrated that you can make your monthly payment.

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