Credit Card Debt Lawyers
Get Help Minimizing Your Credit Card Debt
Accumulated debt on your credit card can lead to penalties and growing interest, which can bury you in debt. Financial experts recommend that you pay off the credit card debt as early as possible, but a lot of people don’t have that opportunity.
There are many circumstances under which people unintentionally max out their credit cards, such as delayed salary, medical bills, credit card fraud, and more. All debtors deserve protection, especially those who cannot afford to pay off their debts asap.
Leinart Law Firm offers such protection to people who carry debt on their credit cards. Our qualified credit card debt lawyers will thoroughly analyze your case and offer viable solutions to help you eliminate the debt.
Helpful Information About Credit Card Debt
How to Reduce Your Credit Card Debt
There are several options to reduce your credit card debt. For example, you can try to do it on your own; however, be prepared to invest a lot of time and effort as this process is typically long and tedious. Another way is to have a debt settlement company negotiate with creditors on your behalf.
However, dealing with debt settlers can be rather risky due to the following reasons:
- Debt settlement companies may ask you to deposit money in a special savings account for 3 years or more before they settle all of your debts.
- Debt settlers will not be able to settle some of your debts — even if you have a savings account.
- Debt settlement programs often try to negotiate smaller debts first, while interest and fees on large debts continue growing.
- Debt settlement companies can ask you not to send payments directly to your creditors, and it can have a negative impact on your credit history.
- Some debt settlement companies are scammers who prey on people in a vulnerable financial position. If such company is asking you to pay fees before they settle your debts and make unrealistic guarantees, then you should stay away from their services.
- Debt settlement can be very expensive – often by the time you pay the debt settlement company and the settled (and unsettled) debts, you haven’t really saved any money and may have even hurt your credit score even more.
The most reliable way is to hire a professional credit card debt lawyer who will work with your case and suggest multiple options based on your unique situation. If you are looking for such professionals, consider getting help from Leinart Law Firm. We will offer you several options, including the Chapter 7 or Chapter 13 bankruptcy filing supported by expert bankruptcy law attorneys.
Credit Card Debt in Texas
If you have credit card debt in Texas, you should know the following:
- Under Texas laws, the credit card interest rates are limited to 18%, and these rates are re-evaluated from time to time.
- The Texas Debt Collection Act, which is based on the Fair Debt Collection and Practices Act (FDCPA), protects Texan consumers from harassment and fraudulent debt collector claims. According to the law, the debtor can stop the collectors from contacting them through a written request. However, the collectors retain the right to contact the debtor regarding specific legal actions and can continue to collect on the debt, including filing a lawsuit.
- Accumulated credit card debt in Texas can result in negative personal credit history, which significantly lowers a credit score.
- Texas provides a four-year period during which the collectors may sue the debtors in court. Under Texas laws, the debtors can use the statute of limitations to protect themselves against debt collectors. However, if the debtor does not appear in the court, a judgment can be issued, even if the credit card debt is out of statute.
- Judgments allow the debt collector to place a lien or levy the debtor’s property. Texas exemption laws have more advantages for debtors than debt collectors, but the collectors can satisfy the judgments through wage garnishments and property seizure.
Taking into account all of these laws and regulations, our professional lawyers can relieve you from credit card debt in Texas. Please do not hesitate to contact us today and get a complimentary consultation. We are always ready to hear you out.
Credit Card Debt Consolidation
What Is Credit Card Debt Consolidation?
The process of credit card debt consolidation involves taking one single loan to pay off multiple credit cards. So instead of multiple debts, you only have a single larger debt. This is done either through a loan company or through a particular credit card debt counseling service.
There are several advantages to credit card debt consolidation. For one, the loan may be at a lower interest rate than your credit cards. This means you may save money over the payment period, and you can pay off your debt faster. Another benefit is that there is just one single payment to keep track of, rather than multiple credit card payments to different companies.
The primary disadvantage to credit card consolidation is that you still have to pay back 100% of your unsecured debt plus interest (which may be less than your interest rate prior to the consolidation but likely will still add up over time, often to more than the original debt). Seeking credit card consolidation may not be the right fit for you depending on the extent of your debt and your income. Bankruptcy may be a better option based on your circumstances. For most people, bankruptcy will allow you to completely wipe out the debt (i.e. pay nothing further to the credit card companies) when consolidation would simply make a large problem not quite as large by shortening the payment period by a small amount. It is important that you talk this over with your attorney before seeking credit card debt consolidation services.
Our Attorneys Can Help Relieve Your Debt
Leinart Law firm’s team of debt lawyers is experienced in a number of debt solutions. Apart from credit card debt, they can offer legal expertise in the following areas.