The average American household faces over $15,000 in credit card debt, $32,200 in student loan debt and a whopping $155,192 in mortgage debt. For most families, annual income doesn’t even meet half of these debts, let alone the additional expenses of daily life. When you look at debt by these numbers, it becomes easier to understand how finances are for many families each and every day. If you’re only making the minimum payments on your bills, the debts will only grow larger each billing cycle thanks to high interest rates. It can feel impossible to find your way out of debt, but a financial fresh start is just beyond the horizon. Speaking with a credit card settlement attorney in Boca Raton from our team at Debt Relief Law Florida can help you discover your truly effective credit card debt relief opportunities.
Credit card companies aren’t always out to get you, they’re mostly interested in receiving their payments. You may not realize it, but chances are your credit card company would take a lesser payment than what you owe as long as the payments are structured in a rigorous payment plan. This is a credit card settlement method known as Chapter 13 bankruptcy. One of our attorneys at Debt Relief Law Florida can determine if Chapter 13 bankruptcy is your best course of action, it enables people with regular income to develop a plan to repay all or part of their debts. In Chapter 13 bankruptcy, debts are either reduced or more slowly paid in chunks the individual can truly afford.
Another credit card settlement method involves complete removal of unsecured debts. That’s right, an attorney from Debt Relief Law Florida may be able to help you entirely eliminate certain debts. Chapter 7 bankruptcy involves liquidation of nonexempt assets in exchange for removal of unsecured debts. Chapter 7 bankruptcy can be difficult to navigate, it requires listing of assets and for some assets to be sold in order to remove your debts. When you work with a credit card settlement attorney in Boca Raton from our team at Debt Relief Law Florida, you can rest assured that there’s a skilled attorney on your side throughout your Chapter 7 bankruptcy process. Our attorneys can protect your best interests and work to ensure that vital assets, such as your home and car, are retained.
When it comes to credit card settlements, our attorneys at Debt Relief Law Florida believe that knowledge is key in reaching beneficial financial states. We offer each and every potential client a free consultation in which we can assess your debt concerns. We can perform a debt diagnostic to assess your specific circumstance. A lawyer from our firm can help explain your debt relief options, even if our bankruptcy services aren’t in your personal best interests. If you’re overwhelmed with credit card debt, don’t continue making minimum payments as you sink further into debt. Our team is here to help you find the financial fresh start you need.