At Perry Draper Law, PLLC, we understand how easy it is to fall behind on credit card payments, and we know how much relief our clients feel when their credit card debt is settled or discharged. We help people in Tampa Bay, Clearwater, and St. Petersburg area obtain credit card relief. Please take a moment to learn more about how we can help you obtain relief from credit card debt below.
Credit Card Relief with Chapter 7 or Chapter 13 Bankruptcy
Overwhelming credit card debt is often the reason people consider filing for bankruptcy. When credit cards have high interest rates, even spending reasonably can quickly lead to large balances. It is not unusual for people who are struggling with other bills, such as a mortgage and vehicle loans, to devote their paychecks to those bills and then rely on credit cards to buy food, clothes and other necessities. In this way, people may suddenly become overburdened by credit card debt on top of their other obligations.
Both Chapter 7 and Chapter 13 bankruptcy can provide credit card relief. Chapter 7 is often preferable for those with high credit card debt because it completely discharges (wipes out) the debt and gives debtors a fresh start after bankruptcy. However, some people do not qualify for Chapter 7, or may be better off filing Chapter 13. In these cases, debtors pay back some or all of their credit card debt over a three to five year period at an affordable rate. When the repayment period is over, any remaining credit card debt is discharged.
Credit Card Debt Settlement as an Alternative to Bankruptcy
Filing for bankruptcy is not always the best option for people with credit card debt. Seeking a resolution with creditors and negotiating a debt settlement plan can help by:
- Lowering or eliminating interest payments
- Reorganizing your credit card debt
- Eliminating late fees
- Stopping creditor harassment
It is important to understand that setting up a credit card debt settlement plan is not without risks. For example, if an account has already been turned over to an independent collections agency, creditors may still contact you about your debt and your payments may not be reduced. This is why it is critical to talk to an experienced credit card relief lawyer about the best way to obtain credit card relief.
Our attorneys will thoroughly discuss a debt settlement strategy with you so that you may choose the most favorable course of action to resolve your situation. In all cases, we work to shift bargaining power away from creditors in favor of our clients, while managing expectations and maintaining realistic goals.
Talk to a Florida Debt Settlement Lawyer and Get Credit Card Relief
If you are overwhelmed by credit card bills, please contact Perry Draper Law, PLLC for a free initial consultation today.
At Perry Draper PLLC, we understand how easy it is to fall behind on credit card payments, and we know how much relief our clients feel when their credit card debt is settled or discharged. We help people in Clearwater, St. Petersburg and throughout the Tampa Bay area obtain credit card relief. Please take a moment to learn more about how we can help you obtain relief from credit card debt below.