Credit Card Debt
If you're struggling to pay off your credit card bills and noticing your debt getting bigger, our credit card debt attorneys might have the perfect solution for you. With extensive experience in debt negotiation and credit card matters, our lawyers can come up with strategies to resolve your specific debt issues before they escalate.
We understand that many people go through difficult times due to no fault of their own, such as:
Being laid off or having your hours cut back at work
Loss of assets via divorce or separation
Large medical debts due to health problems
Frequently Asked Questions
CREDIT CARD DEBT
Can I negotiate my credit card debt with my creditors?
Yes, you can negotiate your credit card debt with your creditors. Many credit card companies are willing to work with you if you're struggling to make payments. You can negotiate for a lower interest rate, a reduced balance, or a more manageable payment plan. It’s often helpful to contact the creditor directly and explain your financial situation. If you’re unsure about negotiating on your own, a debt and bankruptcy lawyer can assist you in the process to help ensure you get the best possible terms.
How will my credit score be affected if I settle my credit card debt?
Settling your credit card debt can impact your credit score negatively, but it might be a better alternative than not paying at all. When you settle a debt, it's typically reported as "settled" or "paid settled" on your credit report, which indicates you didn’t pay the full amount. This can lower your credit score, but the impact may be less severe than a default or ongoing missed payments. Over time, as you manage your finances responsibly, your credit score can recover. Working with a debt and bankruptcy lawyer can help you understand the implications and navigate the process strategically.
What happens if I ignore my credit card debt?
Ignoring your credit card debt can lead to serious consequences. Initially, you’ll incur late fees and higher interest rates, which will increase the amount you owe. Over time, your creditor may report your missed payments to credit bureaus, significantly damaging your credit score. Eventually, your debt could be sent to a collection agency, leading to more persistent collection efforts and additional fees. In some cases, creditors may file a lawsuit against you, potentially resulting in wage garnishment or liens against your property. It's crucial to address your credit card debt proactively, and a debt and bankruptcy lawyer can help you explore your options to avoid these outcomes.
