Bankruptcy...Negotiating With CC Companies

[AZCouple]

I apologize if this isn't the right area (I am pretty sure it's not)...but I can't find the right area...so here it goes.

In about a week we are going to file for bankruptcy. Do I have the ability to call the credit card company and say..."bankruptcy will give you .10 on the dollar. If I can pay you .20 on the dollar...you would get more, and I would not have to file for bankruptcy, can we work something out?"

I may have to in the future...but this could help us right the ship.

Any ideas? Thanks in advance...

[Jenna]

Originally Posted by AZCouple

I apologize if this isn't the right area (I am pretty sure it's not)...but I can't find the right area...so here it goes.

In about a week we are going to file for bankruptcy. Do I have the ability to call the credit card company and say..."bankruptcy will give you .10 on the dollar. If I can pay you .20 on the dollar...you would get more, and I would not have to file for bankruptcy, can we work something out?"

I may have to in the future...but this could help us right the ship.

Any ideas? Thanks in advance...

Yes, definitely try negotiation first - even if you go on to declare bankruptcy. Accounts that are paid are always going to look better than accounts in default. If you can't come to an agreement though, just include them in your bankruptcy.