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Most of my clients are very concerned about credit. They have gotten into debt as a result of credit and they can’t bear the thought of living without credit. Thus, one of the first questions that I get asked is, “can I keep one or two of my credit cards, I don’t have a very high balance on these?” The answer is generally no. Credit card providers are usually not interested in keeping a cardholder who has filed for bankruptcy. Most providers subscribe to a service that advises them of the recent bankruptcy filings.

Once the bankruptcy case is filed, an automatic stay is created. This automatic stay prohibits creditors from contacting debtors directly and prevents further collection efforts. In many instances, the creditors will not receive notice of the bankruptcy proceedings or will be contacting debtors during the interim of the filing and the time in which notice is received. In those instances, the debtor can advise the creditor of the case filing information or refer that creditor directly to their lawyer’s office.

Starting on February 21, 2011, if you listen to Scott Mackay in the morning on the River, 95.9 FM, you will hear him talk about David Siegel. Each weekday, Scott will talk about the bankruptcy help that David Siegel provides from his Aurora, IL office. In addition to Chapter 7 bankruptcy and Chapter 13 bankruptcy relief, the office also can provide personal financial management instruction for those going through a bankruptcy. By listening, you can learn how people have found there way into debt, how they got out of debt, and helpful advice that has helped people stay out of debt.