Can I file for bankruptcy even if I am current with my credit card debts?

Credit Card Article written by Columbia, SC bankruptcy attorney Daniel Stone

Some of my potential bankruptcy clients are current on their credit card debts but they see the storm clouds coming. Many people believe that you have to be behind on your credit card bills or other debts before you can file for bankruptcy. This is not true – you can still file when you are current. In fact, there are advantages to filing for bankruptcy when you are current with your credit card bills and other debts. The most significant advantage to filing when you are current with your credit card debts is that you will only take one hit on your credit when you file for bankruptcy instead of the double hit of being constantly behind your bills. An example would be a good friend of mine who filed about eight years ago. After he filed, I asked him if he had any regrets. He reply was that he wished he would have filed sooner and not allowed his credit to take such a large hit by allowing his credit card bills to go unpaid for a year. If he would have filed when he was current, he would have only taken the bankruptcy hit on his credit.

If you are having problems with your credit card debts and want to explore some options on how to deal with it, please feel free to call me for a free consultation and we can put a plan together to help you with your credit card debts.



- Stone Law Firm