Bankruptcy doesn't have to be something bad.
It can actually be the start of something good.
Your situation is unique, and it's personal.
Your attorney should be as well.

Defaulting on Credit Cards

Credit cards are extremely convenient in today’s society. With them you can buy things that you need but cannot usually afford to buy in cash. These large purchase items may include dishwashers, dryers, and furniture pieces for your home. However, some people do not realize that they will not have the money needed to pay off their bills—even when paid off over time. In these cases, some individuals may end up defaulting on their credit cards.

Each month you have to pay off your credit card bill. The bill will have to paid on the due date that is set by the credit card company. It is rather easy to default on credit card bills. Paying off your credit card even one day late causes your account to incur late fees. Late fees start at thirty five dollars a day and every day after that the bill will accrue interest.

If the bill continues to be unpaid for one billing cycle then the company considers the credit card to be defaulted. A billing cycle for a credit card will usually be sixty to ninety days. After one hundred and eighty days the bill will be sent to a collection agency that will come to you for payment. These late payments will affect your credit score in a very negative way. A defaulted credit card looks very bad on your credit score and will stay on your credit score for a very long time.

Contact Us

If you are having difficulty paying your credit cards on time, filing for bankruptcy might be a viable option. To talk to an experienced Birmingham bankruptcy lawyer, please feel free to contact Greenway Bankruptcy Law, LLC today at (205) 324-4000.

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Greenway Bankruptcy Law, LLC
505 20th St N #1220
Birmingham, AL, 35203
Phone: (205) 324-4000
Tuscaloosa: (205) 737-3350
Gadsden: (256) 467-6650

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Greenway Bankruptcy Law, LLC All rights reserved. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. The following language is required pursuant to Rule 7.2, Alabama Rules of Professional Conduct. No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

Greenway Bankruptcy Law, LLC 505 20th St N #1220, Birmingham, AL, 35203 | Phone Number: (205) 324-4000