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Credit Cards FAQ

Credit card debts are the most common liabilities included in bankruptcy petitions, second only to medical debts. For this reason, it is crucial to understand how your future ability to use credit cards can be affected by a bankruptcy filing.

Like many other types of debt, credit card debt is often misunderstood by those who have it. Before you make any major decisions regarding your credit cards in relation to bankruptcy, talk to an experienced bankruptcy attorney who can answer your questions about credit cards. Here are some questions many of our clients have had regarding credit cards:

If I File For Bankruptcy, Won’t I Have To Give Up All My Credit Cards?

Not necessarily. If you have a card with a zero balance, you aren’t obligated to list it on your bankruptcy filing. The lender might become aware of your bankruptcy, but not necessarily. If this card is serviced by a different lender from any of your other cards, you might end up keeping it. We can help you determine if this is an option for you.

Don’t take on your creditors alone!

Call or email the Counce Law Firm in Memphis, Tennessee, at 901-201-6012. Free confidential consultation with a lawyer, not a paralegal.
We take the time to understand your needs and answer all of your questions. While we want to solve your problem quickly, it’s important that you are comfortable with the process, and understand how it will impact you. These thoughtful conversations enable us to ensure the best possible outcomes.

3333 Poplar Ave. – just West of Poplar & Highland – Free Parking

If I Get Another Card In The Future, Won’t It Have A High Interest Rate?

That’s entirely possible. New lenders will consider your bankruptcy filing and extend credit with what they see as reasonable restrictions. Keep in mind, though, that in your post-bankruptcy life, you’ll need to be a responsible user of credit. That means paying off your balances every month — so you won’t be subject to interest charges, even if the interest rate is uncomfortably high.

Contact Us Today

Do you need answers to questions about your credit score or credit repair? Call now to learn about what options are available to you in your particular financial situation. Contact our law firm today online or call 901-201-6012 to schedule a FREE CONFIDENTIAL CONSULTATION.

Unlike many firms you will always discuss your financial situation with an attorney, not a paralegal or assistant.

We are a Title 11 Debt Relief Agency. We help people file for bankruptcy relief under the Bankruptcy Code. This ad does not create an attorney-client relationship until a written agreement is signed.