Bankruptcy

If I Make a Tiny Good-Faith Payment Every Single Month to my Credit Card Companies, They Can't Sue Me, Can They?

By Joseph McDaniel, Esq.

And they can sue you if you're sick, and out of work, and can't make any payments at all.

They can be, in general, about as much in the way of being horse's patoots as they choose to be at any given time.

I do find it entertaining, in a sort of irritating way, that some credit card companies and collectors send alternate waves of letters.

One month, you'll get the "We're going to take away every trivial asset you have!" letters.

And alternate months the letters say, "But you're a valued customer and we love you! So just pay us 90% and all is forgiven!"

Credit card companies were the most profitable divisions of their banks for a long time, so they extended credit where it should never have been extended. Now they are reaping the whirlwind, even though the 2005 Amendments to the Bankruptcy Code (the "BARF" Act) make it more difficult, dangerous, and expensive.

Although I get the biggest kick out of lawyers or firms that advertise "incredibly easy" bankruptcy filings. I have to wonder, aren't their clients listing their assets and debts? Carefully?

I've never seen an incredibly easy case since 2005 rolled around, although I've seen some that are incredibly difficult, and ALL OF THEM are a pain in the behind to the poor debtor filing the case.

But when I see an incredibly easy case, you'll be the first to know.

NOTHING HERE CONSTITUTES LEGAL ADVICE RE A CHAPTER 7, CHAPTER 13, CHAPTER 11, OR CHAPTER 12. FIND AN ARIZONA BANKRUPTCY LAWYER WHO IS BOARD CERTIFIED IN BANKRUPTCY LAW, AV RATED, AVVO 10 RATED, ON SUPERLAWYERS, OR JUST VERY EXPERIENCED AND A FORMER CHAIR OF SOME BANKRUPTCY SECTION OR COMMITTEE. NOTHING HERE MAY BE USED AS LEGAL ADVICE IN CONNECTION WITH ANY BANKRUPTCY, WHETHER THAT BANKRUPTCY IS IN PHOENIX, GLENDALE, TEMPE, MESA, SCOTTSDALE, OR ANYWHERE ELSE.

Full post as published by Arizona Bankruptcy Attorney Blog on March 18, 2010 (boomark / email).