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Re: credit card issues


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Posted by Linda on October 09, 2001 at 23:22:02:

In Reply to: credit card issues posted by Greg on October 09, 2001 at 22:07:45:

I am not sure about your question about bankruptcy in Maine. You can file bankruptcy in every state, it is a Federal law, but your state may have some requirements in addition to the federal requirements. You should speak with an attorney to see whether you qualify to file.

Your credit will be bad, but you can begin rebuilding it, usually right away, however, credit is getting tighter now - most credit card companies expect to be hit kind of hard by the increase in bankruptcies because of the slower economy.

MBNA shows your interest rate right on your statement. Your rate has most likely gone up if you are behind and over the limit. It's in your card agreement that they can do that. It's called the "default" rate. You are defaulting - they don't have to notify you, since it's in your agreement.

Linda




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