Credit Card Debt in Everett

The high interest on credit card debt can make it impossible to ever get caught up with bills and back on your feet financially. Credit card bills can become so draining on your budget that it can exceed your ability to ever pay it off, starting a cycle of non-payment that can seem like a bottomless pit. This is when debt collectors start to call at all hours of the day and night, harassing you for payment and entirely unwilling to show even a hint of mercy.

First and foremost, you need to understand that falling behind on credit card bills does not make you a failure in life or bad person. Our credit card relief attorneys in Everett often see firsthand how bankruptcy relief helps honest people after their debt spirals out of control through no fault of their own. Sometimes doing everything you can to catch up just isn't enough, and that's when it's time to explore alternatives.

Bankruptcy laws were created by the federal government to help people who fall behind on bills get back on their feet financially with a clean slate. Filing for Bankruptcy in Washington immediately stops the harassing phone calls, and usually results in the elimination of credit card debt.

• In almost all Chapter 7 bankruptcy situations, personal credit card debt is entirely discharged
• With Chapter 13, the creditor gets a percentage of your debt based on what you can afford
• Collections on all discharged credit card debt, including wage garnishment, stop when bankruptcy is filed
• If wiping out credit card debt sounds appealing, contact our law office in Washington State and speak to a qualified bankruptcy attorney

Many Everett residents fall behind on their monthly credit card debt because they suddenly experience a drop in income due to being laid off, or an unexpected illness. Credit card companies are all too willing to offer huge lines of credit with high interest rates, fully aware that problems could arise with payment at a later date.

Once you fall behind on your credit card bills, these same companies that gave you the credit have little interest in your financial woes, and quickly sell the debt to a third party debt collection agency. These companies will do just about anything to force you to pay, often pushing the boundaries of what is considered ethical. They may call your home at all hours of day and night, contact your place of work or family members, and even suggest you dip into your retirement savings to settle the debt at a reduced cost. These tactics often work, but if you give in your actions could have lasting damage to your finances without even solving your money problems.

When your bankruptcy lawyer in Washington State files your bankruptcy in court, creditors are no longer allowed to contact you in any way. If you have debt from a number of different sources, credit card debt is the last in line to be paid when you file for bankruptcy. If you file for Chapter 7 bankruptcy, all of your credit card debt will likely be discharged. If you file for Chapter 13 bankruptcy, you are only required to pay what you can afford, which in most cases is also nothing. Meanwhile, your retirement savings is 100% protected.

If you're thinking about filing for bankruptcy, we urge you to stop making charges on the card right away. You may also want to consider stopping all payments, so that you can free up cash for more urgent expenditures. If you decide to stop making payments, don't want to wait too long to file for bankruptcy or your creditor could sue to garnish your wages.

If you're worried about lasting damage to your credit score, realize that once the bankruptcy process is over and your debt is discharged, your credit score will immediately start to improve. In almost every situation it's better to file for bankruptcy rather than settle delinquent credit card debt, because the time frame on a better credit score is far shorter.

For more detailed information, contact an Everett credit card debt relief lawyer from our law office today and take advantage of our free consultation offer.