Credit Card Debt
Credit Card Debt Attorney in Dalton, Georgia
Credit card debt is a persistent issue for many individuals. However, it is not inevitable for credit card debt to become overwhelming.
Issuing banks provide credit cards as revolving loans; any portion of the balance not paid off by the due date on the monthly billing statement is carried over to the next statement and accrues interest. Credit card debts have higher interest rates than other types of loans because they are unsecured, meaning the lender cannot seize collateral if you fail to repay.
At the Georgia-based Law Office of Jeffrey B. Kelly, our bankruptcy attorneys help clients escape difficult financial burdens such as credit card debt. We have extensive experience assisting individuals in challenging financial situations, and we will be able to assist you as well. For more information, please contact one of our credit card debt attorneys as soon as possible.
Why do I need a Credit Card Debt Attorney in Georgia?
If you decide to hire a credit card debt attorney, they can assist you in a number of ways. First, they can determine if the plaintiff has complied with debt collection laws and if the creditor has a case against you. If not, your attorney can work to have the case dismissed. They can also assist you in responding to the complaint, developing a defense, and appearing in court.
A Georgia credit card debt attorney can also assist you by negotiating a settlement on your behalf. You can avoid court by negotiating a settlement and simply settling your debt.
Credit card debt settlement involves reaching an agreement with the creditor to pay less than you owe. This is typically only possible if the creditor believes they will be unable to collect the full amount. A portion of the process involves suspending card payments and becoming delinquent. This is done in an attempt to coerce you into settling your debt. Because this can be a delicate situation with legal and financial repercussions, such as a negative impact on your credit score, it is often advisable to involve an experienced debt relief attorney.
Credit Card Debt Basics
In general, credit card debt refers to the revolving balances that many borrowers carry from month to month. Credit card debt can be advantageous for borrowers who wish to make purchases with deferred payments. This type of debt carries some of the highest interest rates in the industry. However, credit card holders can pay off their balances each month to save interest over the long term.
Credit cards are one of the most prevalent forms of revolving credit and provide borrowers with numerous advantages. Credit cards are issued with revolving credit limits that can be used as necessary. Typically, payments are significantly less than with a standard non-revolving loan. Users also have the option of paying off their balances in order to avoid high interest fees. In addition, most credit cards offer reward incentives, such as cashback or points, which can be applied to future purchases or even used to pay down outstanding balances.
Assistance with credit card debt
Creditors may be able to assist consumers who are experiencing financial difficulties by:
- Providing up to three months of credit card payment holidays
- Assuring that using a payment holiday will not negatively affect your credit rating
- It is important to consider the long-term effects of increasing credit card limits on your credit report. Be aware that if you are participating in a debt solution, taking out additional credit may violate the terms of your agreement. Always consult your debt relief provider prior to considering this option.
How do I repay my credit card balances?
- Start by understanding your financial situation to know what you can pay monthly. Compute your budget by listing your income and expenses (without using additional credit) and transform this into a monthly plan you can adhere to.
- Use this budget to set aside money for credit card repayment or, ideally, for an emergency fund. Transferring this amount to a separate bank account can be beneficial.
- Stop using your credit card, even if only for a brief period. If the amount you owe increases, it is much more difficult to pay off.
- Ensure that you are current on your "priority bills." These include council tax and any possible fines. If you fall behind on them, you may be subject to visits by enforcement agents.
- Obtain free debt assistance if you do not know what to do. We are here to assist you with your budget, advise you on various solutions (including debt consolidation), and set up a repayment plan if that is the best course of action.
Can one be incarcerated for credit card debt?
Although this is a common concern, the possibility of a prison sentence for unpaid debts is extremely rare. This is only an option for certain types of debt, such as criminal fines and government debts, and only after all other debt collection methods have been exhausted.
Along with other common forms of credit, credit card debt is not enforced with the threat of imprisonment. If a creditor threatens you in this manner, you should consider filing a formal complaint. Learn more about the types of debt that may result in incarceration.
Can you negotiate credit card debt?
If you're falling behind on payments, it's usually a good idea to contact your credit card company to explain the situation and let them know how much you can pay each month. Even if only for a few months, many creditors will agree to an affordable repayment plan or a payment holiday to help you get back on track.
A debt management plan is a method for making monthly payments that are manageable. Determine how much money you have remaining after paying for household necessities, then offer a portion of this amount to your creditors.
If you have the funds available to make a prompt payment, some creditors will accept a "final and complete settlement" for a debt amount that is less than the total amount owed.
Call our Credit Dalton Card Debt Attorneys Now!
Breathe Easier! Take the First Steps with us! Let us guide you through understanding credit card debt! This is the perfect time to free yourself from the debts that have been holding you back. It is time to regain control over your finances. Our credit card debt lawyers can help get you back on your feet.We have seven convenient locations in Georgia - Rome, Dalton, Kennesaw, Douglasville, Cartersville, Dallas and Marietta.
Feel free to speak to one of our attorneys by calling us now.
DISCLAIMER : The information contained on this page is for information only. It is not intended to be legal advice, nor should you make legal decisions based on this information. Please consult with me to see how the law applies to your particular situation. We are a debt relief agency. We help people obtain relief from their creditors by helping people file bankruptcy.
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"Jeff and his team do great work. They are fast and easy to work with. I would suggest working with them if you need to file for bankruptcy. Thanks Kelly Law Group!
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