Credit card debt can be detrimental to improving your financial future. If you have an overwhelming amount of credit card debt, bankruptcy may be the best way for you to completely wipe out your credit card debt and start the new year with a clean slate. Whether you have $5000 of debt or $100,000 of credit card debt, you need to learn your rights in bankruptcy to solve your debt problems. Many of us racked up credit card debt during good economic times only to find ourselves in an unmanageable debt situation where interest rates on credit cards have been raised up to nearly 30% APR interest in difficult economic times. Bankruptcy Law Professionals understands that changes in economic conditions have put many people in this situation and we are here to help. Bankruptcy is a right endowed to you by law that has been designed to help people in difficult debt situations. Credit card debt can be classified as unsecured debt meaning that the debt is not attached to any assets. It is simply a loan that was made to you which is unsecured by any assets you own. Credit card collections can bring many more challenges to your future. For unpaid credit card debt, collections activities can lead to judgements against you in a court of law which can eventually lead to bank account levies or wage garnishments. In the event of a wage garnishment, your employer may be notified of the wage garnishment taking place and will be required to cooperate with the sheriff’s department to help coordinate the wage garnishment. In this event, your employer will be notified of the collections activies to cooperate with the collections efforts. If you want to avoid these type of activities, contact us today to learn more about how bankruptcy can help your situation and start improving your situation.
Bankruptcy Law Pros has offices in La Mirada, Tustin and Riverside to help clients in Los Angeles, Orange County or the Inland Empire. Call us at 855 257-7671 to set up your free consultation.