Topic: Credit Card Bankruptcy Lawyers USA 2021
Are you now a credit card bankrupt and wondering about finding a lawyer in the USA?
Bankruptcy – is a term given as a second chance for consumers overspending heavily on their desires than their incomes using credit cards and living in debts.
The average credit card balance found in the United States in summer 2021 was $5400, there is a very low chance of bankruptcy with this amount but about 60% of the people who file for bankruptcy are with an income less than $30000 annually.
This 60% of people are those who pay home rents less than $500 weekly, spend on utilities, food, and transport, lifestyle, and create $5400 credit card bills to see how they can feel being bankrupt.
A wide majority of people who file bankruptcy are the ones who are in need of it, they do not get into it for fun, they struggle for the expenses that are waiting and bankruptcy hits a reset button for them, says Edward Janger – a writer and teacher of bankruptcy at Brooklyn Law School.
Any credit bankruptcy has to be dealt with professionally, or it might create a great negative stamp on your credit report for the next 8-10 years resulting in making it extremely difficult to get loans. It can make your financial life go chaotic and you might not be able to file for the next 8 years.
Filing credit card bankruptcy is not easy has to be filed by professional lawyers and not to be taken lightly, people have been seen choosing this and getting a way out from the trouble and gaining more time and finding more ways to handle their debts. But this brings in consequences of not being able to get credit for a number of years ahead, which would be a bigger problem. You have to be dependent on cash for the entire period until your bankruptcy work is way off your credit report.
Credit card Bankruptcy affects
The procedure to bankruptcy under credit card debt is easy to follow, skipping one of the monthly payments followed by some more months and creating a late fee slap on your monthly payments. After an extra fee lapse on your payments the Credit Card Act of 2009, allows your credit card banks or companies to hike the interest rates on your card.
The amount for rising in interest rates varies and the records show the interest rates jumping exponentially from 17% to 30% monthly, perhaps there is no law restricting the credit card companies from going higher to this.
In fact, when the interest rates rise higher the late payment penalties keep compounding over time and your credit card debts keep ascending. When you stop making even the minimum payments, it the time the debt collection agency will arrive at your place.
The interest rates can be raised if-
- The promoted introductory period ends
- Prime interest rates increase
- You hold the card for more than a year
- Your credit score decreases
These debt collectors are extremely aggressive in recovering credit card debt amounts, they can get sue orders against you from the courts through their lawyers which may cost you your properties in return for their recovery.
Getting your credit card bankruptcy filed in court from the lawyers can protect you from lawsuits and collection agencies. Filing bankruptcy is an automatic stay for collectors and creditors from taking action against you.
Significance of Bankruptcy for Credit card debt
Bankruptcy can not only wipe out the credit card debt but also will clear all forms so of uncleared debts if claimed properly by lawyers. Some of the debts that can be released are-
- Utility debt
- Medical debt
- Pending rent
- Personal Loan
- Low balance due to repossession
Debts such as student loans, child support expenses, alimony taxes, loans obtained through fraud can also be cleared.
When you submit a credit card bankruptcy through your lawyer to the bankruptcy trustee, the current value and future value of the applicant has to determine the debt repay period. Once the trustee agrees with the plan the applicant has to make the required payments and the credit card debt is discharged.
Credit Card Bankruptcy Lawyers USA 2021
Here we have listed some of the attorneys for credit card bankruptcy filing-
The Law Office of Paul W. Rea
This law firm is owned and operated by Paul Rea, having more than 25 years of experience in bankruptcy and personal debt assistance with offer details. They have a professional team of passionate attorneys who work with you together to formulate the best plan to handle your financial crisis.
They understand your problems and priorities and perform closely by taking ample time for your case to be more effective. You get a free first visit, they will stop the harassment calls from creditors. They practice dedicated bankruptcy law in chapter 7 and chapter 13.
Azadegan Law Group. APC
Azadegan law group is a specialized credit card bankruptcy attorney with a team of experienced lawyers in the USA. They understand how credit cards are causing problems to people especially in the current economy. The attorneys at this law firm work closely with every client for the best strategy and planning to release the credit card debt.
They help you with a settlement plan and ways to negotiate with your creditors and for consolidating debt and eliminating late charges and interest payments. Once you hire a credit card bankruptcy lawyer from the Azadegan Law Group you are assured that a USA experienced attorney is defending your interest, as they directly deal with the collection agencies and creditors.
McCarthy Law PLC
The lawyers at the McCarthy Law firm make you feel comfortable in handling your credit card bankruptcy and fight aggressively for negotiations with your creditors and collection agencies for large settlements possible.
They offer a free consultation and a flat fee where your matters get resolved mostly within 6 to 36 months with handling all the negotiations and appointments with your creditors. McCarthy Law firm has operated in more than 90 locations nationwide.
No matter whichever bankruptcy you are planning to file, it is always recommended to consult with the Law firms to identify the case, and accordingly, a process can be made for you.