chase 2% going 5% and my husbands military pay does not pay the minimum payments & other cc are doing it too. What can we do?

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chase 2% going 5% and my husbands military pay does not pay the minimum payments & other cc are doing it too. What can we do?

all these credit card companies are doing the same thing and I don’t know what legal things we can do. Is there any advice for us?Chase told me that citicards and captial one are doing it too. Is there anything we should do or can do about this?

Asked on June 29, 2009 under Bankruptcy Law, Texas

Answers:

Ben Schneider / Schneider & Stone

Answered 11 years ago | Contributor

Unfortunately, the rise in credit card interest is most likely inevitable. If you are no longer able to make the minimum payments on your debts, it may be time to consider filing for bankruptcy. Bankruptcy will allow you to be rid of all outstanding unsecured credit card balances. I am an Attorney licensed in Illinois, but I may be able to help you find local counsel, please contact my office if you still have questions.

Ben Schneider / Schneider & Stone

Answered 11 years ago | Contributor

Unfortunately, the rise in credit card interest is most likely inevitable. If you are no longer able to make the minimum payments on your debts, it may be time to consider filing for bankruptcy. Bankruptcy will allow you to be rid of all outstanding unsecured credit card balances. I am an Attorney licensed in Illinois, but I may be able to help you find local counsel, please contact my office if you still have questions.


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