Dallas Credit Card Debt Lawyers
Wiping our Credit Card Debt in Chapter 7 Bankruptcy
These days, many people are forced to rely on credit cards to pay for groceries, diapers, gasoline and other essentials between pay periods. In an emergency, when the car breaks down and money is short, credit cards can be a life saver.
But the cost of credit is steep. According to Forbes Magazine, the average American family “would have to forgo 22.61% of its income” to pay off outstanding credit card bills. The average U.S. family has a median household income of $43,333 and credit card debt totaling $9,797.38.
The Dallas credit card debt lawyers at Fears Nachawati Law Firm know that credit card debt can be devastating. Charge card companies often impose astronomical interest rates, and depending on the terms of the credit agreement, the creditor may list any late payments on your personal credit history. This can destroy your credit rating and make it impossible to obtain favorable terms on future loans.
Even if you have enormous credit card bills, Chapter 7 bankruptcy may be able to help you erase all your credit card debts, medical bills and other unsecured debts, including payday loans. The Fears Nachawati Law Firm can also help you eliminate those annoying creditor phone calls.
Automatic Stay Puts a Halt to Creditor Harassment
The very day we file a Chapter 7 bankruptcy petition on your behalf, an automatic stay order issued by the bankruptcy Court goes into effect. This means that credit card companies and other creditors are forbidden to pursue collection activities or civil actions, including:
- Annoying and Abusive Phone Calls
- Bank Account Levies
- Credit Card Lawsuits
- Reporting Charge Card Debts to Credit Bureaus
Negative Impact of Overwhelming Credit Card Debt
Credit card debt is oppressive and may negatively impact your ability to pay monthly obligations like your mortgage or car payment. By eradicating credit card debt in a Chapter 7 bankruptcy, you can once again have the freedom to pay off your important bills.
If credit card debt has had a negative “cascade effect” on your ability to pay priority bills, it is time to take action. You may be able to erase unsecured debt and stop creditors and collection agencies from hounding you, by filing for Chapter 7 bankruptcy. We have offices to serve you in Dallas, Fort Worth, Houston, Austin, and San Antonio. Call Fears Nachawati Law Firm to set up a free case evaluation today at . We have affordable payment plans to serve you.
“Rebecca Gattis has been a huge help through the process of getting approval from the trustee!!! She is timely and responsive.”
— Round Rock, TX