Are you making minimum payments on credit cards, frustrated at how slowly the balance decreases? Are you paying steep interest rates because of missed payments? Are you able to make credit card payments at all?
If any of the above is true for you, you should know that you are not alone. Unmanageable credit card debt is a problem for millions of Americans. No matter how you got into credit card trouble, you owe it to yourself to find a way out.
The Queens credit card debt relief lawyers at the law offices of Nathan Erlich, P.C., can help you. We are a well-regarded local law firm that serves clients throughout Queens and Brooklyn, including in Flushing. Since 1992, we have been providing bankruptcy-related legal services because we recognize that financial difficulty is a problem that members of our community will always need assistance with.
We offer free consultations in bankruptcy cases, and our legal services are among the most affordable in the New York area. Clients work directly with an experienced New York bankruptcy lawyer throughout the course of their cases. To learn more, send us an e-mail or call toll free 877-518-7581.
Which Debt Relief Option Is Best for You?
Chapter 7 bankruptcy erases credit card debt so that you no longer have to pay it back. If you do not qualify for Chapter 7 bankruptcy, you may still qualify for Chapter 13 bankruptcy, which allows you to create a repayment plan according to your resources and schedules — not the bank's.
However, bankruptcy is not the only option. At our law firm, we will help you weigh the pros and cons of different alternatives so that you make the best choice for your specific circumstances. Other possible ways to deal with credit card debt include:
- A loan workout is when the credit card company agrees to accept a percentage of the total amount due as full payment. One major disadvantage of loan workouts is that the amount of debt the bank forgives will be treated as income and you will have to pay taxes on it at the end of the year.
- Debt relief agencies promise lower interest rates in return for a "small fee." These fees are often not small at all, and the benefits may not be worth the investment. Some of these so-called debt relief agencies are fraudulent, and all of them should be approached with caution.
Get Advice from a Trustworthy Source
Deciding to file bankruptcy is a serious decision, but if you are afraid to answer the phone or open your mail because of high credit card debt, it is time to start exploring your options. Have a confidential conversation with one of our experienced Queens credit card debt relief attorneys. Contact us online or call toll free 877-518-7581.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.