Let me start by saying that if you are in a current bankruptcy case, you were probably told not to make the credit card payments because more than likely, those cards are included in your bankruptcy.
For those who are not one of my clients and you are in this situation, please contact me today for a FREE consultation.
While you owe a debt, purchases you make actually cost more in the long run than what you would have paid the merchant. Why? The reason is simple. Everytime you buy something, especially things you really don't need, you are making the decision to not pay down your existing debt.
For a credit card, if your minimum monthly payment is $20 and you owe $1,000 with 20% APR, you will pay $1,168 in interest alone. Paying $21 a month instead will cut that total interest down to $1,005. Imagine paying $5 more than your minimum monthly payment. That's why it it important to pay a little more than the minimum and not continue to incur debt.
This answer does not create an attorney/client relationship and is for informational purposes only. We are a law firm licensed in Georgia. A consultation with a qualified attorney in your area is required to determine specific legal advice as to your situation and applicable law. We are a law firm designated by Congress as a debt relief agency. We help people file for bankruptcy relief under the bankruptcy code.