For most people, tough times only get tougher with rising credit card debt. The Turnaround Team in Scottsdale, Arizona, is a law firm built to help people get back on their feet after difficult financial times. We work with clients who need a fresh start to get out from under credit card debt.
Bankruptcy Law and Unsecured Debt
Bankruptcy is arguably the best tool for dealing with runaway credit card bills. Here’s why.
Most credit card debt is unsecured. That means that the amount you owe is not linked to collateral, such as your house or car. Credit card companies cannot force you to sell property to pay them back, without a lengthy court proceeding. The most common form of bankruptcy, Chapter 7 bankruptcy, may allow you to eliminate most, if not all of your credit card debt.
Debt Consolidation Companies and Credit Card Services
Watching credit card debt spiral out of control is a terrible feeling. When you struggle to pay the minimums and can’t imagine ever getting out from under the payments, the situation is desperate.
– Brian M. Blum, Managing Attorney
Unfortunately, there are many businesses and individuals who prey on that desperation. Beware of promises to consolidate your debt or settle it for pennies on the dollar. Unless you are working with an experienced debt-settlement attorney, the services promising to take care of your debt after you pay them, upfront, are often unhelpful. Consolidating debts that you can’t pay is not usually helpful either—you’re just borrowing more money!Get a Free Bankruptcy Consultation
Even you can negotiate a “good deal” with your creditors, bankruptcy is very often the best solution because it costs you less, which allows you to get back on track faster. The sooner your debts are taken care of, the sooner you can start contribution to a 401(k) or other retirement plan, or save for a child’s college.
Bankruptcy is a legal solution that often offers the only real path out of a credit nightmare.
How We Can Help
The Turnaround Team can help you regain control of your credit card debt. Our experienced lawyers have the experience to develop a plan of action that will put you and your family in the best possible position to move forward.
If bankruptcy is right for you, we can help you make the best possible choice:
- Chapter 7 bankruptcy, absent some very rare exceptions, allows you to eliminate your credit card debt
- Chapter 13 bankruptcy allows you to reduce your debt considerably, and pay back the remainder in a manageable way while letting you hold on to assets that matter to you, such as your home.
We also never shy away from telling individuals when bankruptcy is not the best option. In those instances, we can work with you to identify the better steps to take.
We offer a free, one-hour consultation so you can get the answers you need without taking on more debt. Your financial health is our top priority. If your credit card debt is unmanageable, let’s turn it around.
Contact Us to Learn More
Let us lead you down the right path to fixing your financial situation. Contact our bankruptcy attorneys online to learn if eliminating credit card debt in bankruptcy is right for you. You can also reach us by phone at (480) 420-1999.