Bankruptcy Attorney Denver

Credit Cards vs Debit Cards

Everyone these days have a credit card or a debit card.  This post does not have a lot to do with bankruptcy in Denver, but more about financial protection of your assets.  I wnted to go over this because it could cause a person to need to file bankruptcy in Denver if they were unaware of some of the nuances between a credit card and a debit card.  I am going to make this extremely generic because this is a bankruptcy site for people thinking about bankruptcy filing in Denver…

A credit card comes with anti-theft protection a debit card does not.  If someone were to steal your debit card and run through all the money in your bank plus some, it is possible the bank would not re-imburse any of the money actually taken from the account.  The same transaction made on a credit card would have less than $100 liability to you.

Now the credit card has the liability of uncontrolled spending for some…  So, you need to keep track of what you are spending and what you can afford, but generally a credit card would be better to use as long as the balance was paid off at the end of each month.

Give us a call if someone stole your debit card and because of that you are thinking about filing a bankruptcy in Denver.