Bankruptcy Attorney Charles Huber Gives Expert Advice on Repaying Debts With a 0% Interest Credit Card

St. Louis, MO (PRWEB) January 22, 2015

Opening up a new credit card that charges zero interest sounds like it’s too good to be true.

That’s because it usually is — especially if the card user had been hoping to use these credit cards to help pay off debts.

According to the Washington Post (1/8/2015), these zero-interest credit cards, which have become more numerous in recent months, allow consumers to transfer their other higher-interest credit card balances to a new account. What many consumers don’t realize, however, is the limited amount of time they have to do so. Some 0% interest credit cards give consumers about 90 days to transfer their debts — while others only give 30 days.

As a result, people unaware of their new card’s transfer deadline can end up losing the chance to take advantage of this offer, and miss out on relief from high interest rates that have crippled many individuals’ personal finances.

In addition, many consumers who open up a zero-interest credit card with hopes of using it to repay their debts might be in for a surprise, according to Charles Huber, Principal at the Law Office of Charles Huber.

“If things are out of hand, it is just delaying the inevitable,” Huber, a Chapter 7 and Chapter 13 bankruptcy attorney, says. “In such a case, if you end up filing bankruptcy anyway a short time later, the company to which you transferred the balance may claim they are a victim of fraud, because you paid off the old balance and left them with a large balance you are trying to wipe out in the bankruptcy.”

Because of this, Huber says it’s important for individuals for whom a bankruptcy filing might be inevitable to avoid these zero-interest credit cards entirely.

“It seems like these cards would only help people pay off a manageable amount of debt,” he says. “If things are out of hand, it is just delaying the inevitable. The 0% interest rate is to entice you. Later on, the interest rate will go up, and there may be fees that were not expected.”

Ultimately, bankruptcy is the only guaranteed way an individual can pull him or herself out of overwhelming debt and get a clean financial slate.

“Bankruptcy is the cheapest and surest way to get out of debt and get a fresh start,” Huber says. “There is no minimum amount of debt you need to have. Most people know if they can dig out of debt on their own, or if they should file bankruptcy. The important thing is to be honest and objective, and leave emotions out of the decision.”

About the Law Office of Charles Huber:

The Law Office of Charles Huber is a St. Ann, Missouri based private law practice that provides legal services to clients with bankruptcy and traffic issues. Charles H. Huber is a member of the Missouri State Bar Association and has been practicing law for 30 years. For more information on the Law Office of Charles Huber, visit

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The least thing any established person wants to happen to him or herself is to end up having nothing, as in zero at all.  With the aftershock from the global recession, a lot of companies ended up closing, and hundreds of thousands of workers from all over the world lost their jobs.  It’s not surprising that most of these people ended up declaring Bankruptcy.

Again, everybody really doesn’t want to declare that they are already bankrupt.  Bankruptcy is a state in which the person doesn’t have any asset anymore—money or even any property.  The real measurement of bankruptcy is when a person has a lot of loans that weren’t settled.  Once a person couldn’t pay up for all his loans, what happens is that the lending company sequesters everything that the debtor has from his cash savings to all of his properties.  The worse case would be when the debtor has already given all his money and properties, yet he or she still has a remaining loan to be paid.  That means the debtor is already in a full state of bankruptcy, and that there is no other way to recover but to look for a sponsor or benefactor.  Avoiding being bankrupt is actually easy if the debtor only knows how to manage his or her loans.  Having several loans is one of the main root causes of Bankruptcy, and if you want to be spared from this very embarrassing financial state, then you have to revisit all your loans and do the necessary organization particularly to your finances so that you won’t end up getting bankrupt.  What you only have to do is to have a credit repair so that you can make the necessary adjustments to the credits that you have so that you won’t pay up for unnecessary expenses.

Aside from being familiar with all the loans that you have, avoiding Bankruptcy starts from the value of controlling oneself from incurring more loans in the future.  If you can stop yourself from getting more personal loans or from using your credit card more often, then you won’t definitely get bankrupt.

Are you looking for more information regarding Bankruptcy? Visit today!

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