Under the bankruptcy law, you are required under penalty of perjury to list all of your debts. If you fail to list all of your creditors and the related debts, your case can get dismissed.
Here is the solution: If you owe less than $600 on the card, you are allowed to pay it off prior to your filing and avoid listing the debt or the creditor – you don’t owe them any money so you don’t have to list them. But, once you file chances are good that the credit card company will cancel the account anyway. With this in mind, it doesn’t make a lot of sense to use your scarce money to pay off that card.
In any event, after your case is discharged, you will get offers for new credit cards. With a new card you can start the process of rebuilding your credit.
If you have any questions about Bankruptcy in Michigan, call the law office of Michael J Shovan PLC right now at (877) 233-9389 and speak to an attorney who can answer your questions. Michael J Shovan PLC is a debt relief agency and we help people file for bankruptcy under the laws of the United States Constitution, Article 1, Section 8.
This post is for informational purposes only and is not intended to constitute legal advice. Any relationship with this firm will be established by a written agreement signed by both you and me. If you have read this far, you need to call me at (877) 233-9389 or email me at mike@mikeshovan.com.
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Stop the madness. Let’s put a plan together. I did it and so can you.