Attleboro, MA Attorney for Credit Card Debt Relief
Credit cards can be great. They help people deal with income reduction because of job loss, lengthy hospitalizations, divorce or separation, and emergency car repairs. They allow people to travel easily. However, the times when you really need a credit card are often the times when it is hard to pay it off. It is easy to become quickly overwhelmed because the sky-high interest rates of many cards make it almost impossible to stay current with payments.
Don’t Let Credit Card Debt Overwhelm You! Call a MA Bankruptcy Attorney.
If you are struggling to pay off your credit cards and other debt, there is a solution. Filing for protection from creditors under the bankruptcy code can give you a fresh financial start. Attleboro bankruptcy lawyers at Easy Bankruptcy, LLP can answer your questions about bankruptcy and walk you through the process. Think how great you will feel when your credit card debt is gone. Give Massachusetts attorney Bisio a call to learn how to get out from under this type of debt. Telephone 508-212-9210 to schedule a free consultation or send an email to learn about the bankruptcy process.
Benefits of Filing for Bankruptcy with Credit Card Debt
The immediate benefit of filing for bankruptcy is that an automatic stay goes into effect as soon as the court receives your Chapter 7 or Chapter 13 bankruptcy petition. This means that credit card companies can no longer send demand letters, make threatening phone calls, or contact your employer. This is a huge relief for people whose creditors have badgered them for months. Just having the automatic stay in place provides relief from the stress and worry that comes with high credit card debt.
Some people are reluctant to file for bankruptcy because they fear it will ruin their credit rating, leaving them unable to buy a house or vehicle again or obtain a new credit card. Interestingly, this is not always the case, as the bankruptcy could help your credit rating. Cancelling your debts improves your debt-to-income ratio and raises your credit rating.
Considerations When Trying to Eliminate Credit Card Debt
Why Chapter 7 may not be the answer to credit card debt: If you wish to keep your home or vehicle while getting rid of your credit card balance, you will need to file Chapter 13 bankruptcy, which restructures your debt so it is easier to pay while retaining some assets like your house or car. If you are unable to make payments, Chapter 7 bankruptcy is the better option. Chapter 7 eliminates your debt by taking your assets to pay off as much as possible and cancelling the remainder you owe.
Don’t make a common mistake: When you use a bankruptcy petition to deal with credit card debt, it is important to pay attention to the timing of your petition. If the court finds that you have recently used your card to make a so-called “luxury purchase” right before filing for bankruptcy, it could charge you with fraud.
Don’t Despair. Call Massachusetts Bankruptcy Lawyers at Easy Bankruptcy Law. Free Consultation.
Contact the Massachusetts bankruptcy attorneys at Easy Bankruptcy, LLP to get started on the path to discharging your credit card debt. Telephone 508-212-9210 or send an email to schedule a free consultation. I know how stressful large credit card bills can be and know how to restore your peace of mind.