You could try, but depending on how far you are behind it is probably unlikely that you will ever pay off your credit cards in full. When you fall behind, the credit card companies will substantially raise your interest rate, causing you to get further behind. You will eventually exceed your debt limit and be charged over-limit fees, too. If you have $15,000 in credit card debt, with an average interest rate of 17% and pay $300 per month, it will take you almost 7 years and 4 months to pay off the debt, and you will have paid in over $26,000. If you’ve fallen behind on your cards, and your average interest rate is 27%, it would take you approximately 12-1/2 years to pay off the debt at $350 per month. If you qualify, bankruptcy can eliminate all of this debt within 3-1/2 months.
If you have questions about bankruptcy, I recommend using a qualified Fort Worth bankruptcy attorney. As an experienced and dedicated Fort Worth bankruptcy attorney, I can offer advice on how to proceed based on your specific situation. You and I can meet face to face to discuss your options. I look forward to helping you become debt free. To schedule a FREE consultation, please contact me at (817) 732-7590 or (972) 819-3861. You can also send me an E-mail or complete the Free Case Evaluation.