Creditors and Bankruptcy/credit cards


I have a Capital one Visa card, 20% rate, that is currently 5 payments past due, solely because we hit financial hardship in 2014 going into 2015. I have been in contact with the creditor, but I am unable to pay it right now. The fees have me atleast $500 over my limit and growing. We are now starting to see the light and get better financially, but payment is not an option this month. I'm wondering if I can get another card, lower rate, and transfer the balance like other people do? I've never done the card swapping, but have heard of people who do this to cure this kind of thing. Is this an option for me? What do I look for? Or am I stuck with this card for now? Thank you for your time.

Hello Mike
You ask whether you are stuck paying off this credit card with the outrageous interest rates when the credit card company knows you canít pay.   The truth is that even if you could pay the amount you owe at this point, you will find them to be very ungrateful.    Even if you pay they will still give you a bad credit entry (slow pay or no pay).    

You have a few other options that may or may not be a good fit for you, but it is impossible to say much more without knowing some more specific facts about your debt situation.    It may even be possible for you to use this temporary situation of lack of cash to your advantage so you can get back on your feet at a minimal expense.    

This would be much easier talking about on the telephone .   I will not charage you just to talk on the phone if yu would like to call, and you can call me anytime you wish at the following number.   I look forward to hearing from you.

Jack Hall     J.D.
915  261-3893

Creditors and Bankruptcy

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Can answer questions about bankruptcy, lawsuits or judgments that have been filed against you. Also can answer questions about tax issues, property that is facing foreclosure, repossession of vehicles, and wage garnishments. 915 261-3893


Over 30 years experience assisting consumers with lawsuits and bankruptcy matters since graduating from law school.

Numerous published appellate court opinions; Law review publications; Article on consumer bankruptcy in Black Enterprise magazine; was requested to author a book on consumer bankruptcy by Doubleday Publishers

Over twenty years of education including law degree (J.D.); masters and bachelors degrees in political science; author of magazine articles related to consumer bankruptcy; hundreds of hours of continuing education legal education and seminars

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Have had well over a thousand bankruptcy clients during the past 30 years and have had many clients in civil lawsuits during the same time period

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