I love Western Pennsylvania. We have an honest, hard-working ethic that just will not go away. And we want to pay our bills. So when I tell most of our clients who are about to file for bankruptcy protection that they should stop paying their credit cards, they look at me in horror. “I can’t do that!” they say, “I have always paid my bills.”
Don’t Throw Money Away
I get it. I always pay my bills too. The difference is I have determined that you do not have enough money to pay for your food, clothing, rent or mortgage, utilities, car payment, gasoline, insurance, and other necessary expenses and still make payments on your credit cards. If that is the case, and if I have recommended that you file bankruptcy, then all you are doing by paying these bills is delaying the time that it takes to file. You are also throwing money away that can be used to catch up on a needed car repair, or buy food that the household needs, or pay for the filing of the bankruptcy.
There is a fear that creditors can swoop right in and take things from you, but those fears are generally unfounded, and we can tell you the situations where that might happen. In those few situations, we may tell you to keep on paying on the cards. Generally, creditors cannot come in and take anything. They would have to sue you, win, and you would have to decide not to appeal the decision before they can come in and take anything, and that process can take months, and often years, to happen.
If we tell you to stop paying the cards we mean it. Stop paying the credit cards.
Wondering if bankruptcy is the right option for you? Contact us today to schedule your free consultation.