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| *Ostroff, Fair and Company>>>Personal Finance |
Can I file bankruptcy on one credit card? |
I have a credit card with a $15,000 balance. The minimun payment due is too high and I can't afford it.Can I file bankruptcy on this one credit card? The previous answer is correct. You can not file on only one credit card. That is unless that credit card is all you owe and if so it is very unlikely that Bankruptcy Court would approve your petition. If you can not pay the bill your best option is to contact the credit card company and advise them of this and why. Then seek out a non-profit consumer credit counseling agency to help negotiate with the credit card company. In many cases credit counselors can get intrest rates reduced and sometime portions of the balance forgiven. Most important, use a NON-profit counseling agency. There have been an explosion of for profit agencies and some have done more hurt than help. No, you have to cover all of them. No way, you can't do that. no, & you would definetly benefit from some credit counseling consumer credit counseling graduate No, in order to file bankruptcy, you have to be in debt up to your neck. One credit card with a high balance shows that at one point of time, you had the means to afford to have the card. Thus, eliminating you from being granted bankruptcy. What did you spend the 15 k on ??? |
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