Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - Will it be too late to file for bankruptcy once the debt goes to collections? - I have a big credit card balance at a 29.99% rate with a minimum balance payment of just under 1,000/month. I've been behind for about 3 months now. I hate to file BK just for 1 credit card but with my decreased income I have no money and no way to pay for it. The best the crdit card offered was 600/month with direct withdrawl from my checking but i don't have that much to spare each month so they said they can't offer anything better. So if it's already in collections does that mean it's too late to file for BK to get that off my back? I offered 100/month for 6 months until I find a better paying job but they said no. I can't do anything else so I am thinking of BK. -