Credit Card Debt Relief

Credit cards make up a substantial percentage of consumer debt in the United States today.

If your credit card debt is spiraling out of control, if you rely on your cards to pay basic living expenses, or if your cards have large balances at or near their credit limits, you may want to consider a Chapter 7 or 13 bankruptcy.

Bankruptcy and Credit Card Debt

Chapter 7

Many consumers file Chapter 7 bankruptcy to wipe out unsecured credit card debt. Most credit card debts are dischargeable in Chapter 7 bankruptcy. At Toscano & Wilson, your attorney will make sure that your debt will be eliminated before you decide to file and make sure that you avoid any spending behavior that could make your credit card debts non-dischargeable.

 

Chapter 13

Chapter 13 reorganizes your debt to be repaid over a period of 3 to 5 years. Credit card debt is generally unsecured debt and as such it has the lowest priority in a Chapter 13 bankruptcy. This type of bankruptcy lists all creditors as well as your plan to repay them. In Chapter 13, you and your attorney propose a plan to be confirmed by the court that prioritizes your home, automobile, tax, and support obligations to allow you to pay off your most important debts and still get a financial fresh start.

The average household carries a credit card balance of $5,700.

The total credit card debt in the country is $3.9 trillion.

Toscano & Wilson Will Be With You Every Step Of The Way

If you are overwhelmed with credit card debt and believe there is no way out, call us. Bankruptcy may seem like a drastic step, but depending on your situation, it may be your best choice to get a handle on your finances.

Contact Us

The legal experts at Toscano & Wilson understand what you are going through. Bankruptcy may seem like the end, but the truth is it is simply a new beginning. Through competent and compassionate legal representation with Toscano & Wilson, things can only get better. Give us a call, tell us your story, and start to feel better about your financial situation.

  • The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, messages, and emails. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until an attorney-client relationship has been established.

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