Many Americans are in debt so deep that they can’t see a way out, and some credit card help would ease their burden. When the phone won’t stop ringing with creditors’ demands and you’ve decided to take the next step, a debt relief attorney can silence the phone and give you some breathing room while you craft a solution.
When It Comes To Credit Card Debt You Are Not Alone!
The Federal Reserve reported that 2018 brought American consumer debt to just under $4 trillion. Here are some other sobering facts to remind you that you are not alone in your crisis.
- On average, each of us owes 26% of our income to debt. 10% is non-mortgage debt like credit cards, student loans and car loans.
- Total revolving (mainly credit card) debt averages out to $3,167 for every man, woman and child in this country.
- 20% of adults roll over more than $2,500 in credit card debt each month.
We all walk into debt with open eyes, fully intending to pay it off quickly and efficiently, and in a perfect world, we would. But then we are faced with the real world where cars break down, family members get sick and layoffs happen. It doesn’t take long for life’s little curve balls to break the plan, and the bills start piling up. Pretty soon creditors are calling, and the hole gets deeper and deeper with every passing day. Depression and anxiety become familiar emotions while we wonder what we can do to get out from under the burden.
Get Credit Card Debt Help Using An Attorney
Contacting an attorney to help with your debt relief may seem like a big step, but debt is a legal issue. You signed documents—in essence, contracts—that committed you to the credit in question, so an attorney is actually the right person to see you through to the other side. Generally, an experienced debt relief attorney can do the following:
- Will locate any loopholes and traps in the fine print;
- Maintains working relationships with creditors’ representatives and attorneys to help cut through red tape;
- Will negotiate a settlement that works for you, and
- Is there to advise you on your circumstances and be your
One solution does not fit all, and you need someone knowledgeable to find the solution that will work best for you.
When a person stops paying a debt, the usual order of things is debt collection phone calls and letters, then judgments and maybe lawsuits. The debt collectors can be bad enough—we’ve all heard the horror stories consisting of threats and accusations designed to scare you into skipping other payments just to make these people go away—but you don’t want it to reach the courts before you’ve retained a lawyer. Most people aren’t familiar with the legal jargon issued in the paperwork, and some don’t even realize the matter already went to court until their wages are garnished or some other rude awakening informs them that they are too late. Don’t let this happen to you. If you’re drowning, ask for help.
Engaging a debt relief attorney well before a lawsuit is filed has several benefits. Let’s take a look at the main ones.
- Debt collection calls cease immediately—Once you’ve handed your debts to an attorney, the lawyer will contact your creditors, and the collection calls will stop. By law. Any further contact between you and your creditors in either direction will go through your attorney.
- Creditors must validate debts—The burden is on your creditors to prove that you owe them a debt and to validate how much the debt is. Your attorney will demand that each creditor do so in line with the law. Many debts are sold and resold to collection agencies, and the original paperwork is often lost. If they cannot prove the debt, your attorney may be able to have it invalidated. An additional benefit of using an attorney through this process is that the hassle of filling your counsel’s demands and producing old or lost paperwork can often lead creditors to drop the matter entirely. They use the promise of legal action as a scare tactic, so why shouldn’t you?
- Settlement options expand—Once your creditors see that you are serious enough about resolving your debts to engage counsel, they will likely either (1) back off, as discussed above or (2) be prepared to negotiate so that they will receive some payment. Your attorney will use the law to secure the best possible outcome for your circumstances.
- Legal action is properly handled—The worst thing you can do is ignore the problem. If your creditor files a suit and you don’t respond, the judge will find in the creditor’s favor without any input from you. This is called a default judgment, and you can be sure it will give your creditor everything he wants. If it reaches this level, an attorney’s advice is critical. The law provides you with defenses and other means to protect yourself, and it’s your attorney’s job to use every technique available to protect your interests.
- Bankruptcy is sometimes the answer—It’s a big step, but bankruptcy can sometimes be the only relief in sight. Don’t make the decision without consulting a lawyer, and don’t try to go through the process without one. A debt relief attorney can advise you on the advantages and disadvantages in your case and will see you through the process if that’s what you decide to do.
Anyone looking for credit card help needs to understand that these are legal issues, so it makes sense to have a legal expert advocating for your interests. Your decision will affect your credit for years to come, so talk to an experienced debt relief attorney who can help you determine the best option.