Orlando Credit Card Debt Attorney

Credit card debt is one of the most common reasons for bankruptcy filings. If you are struggling with a high amount of credit card debt you cannot repay, it is important to know you are not alone. You have many legal options that can either help you repay your debt, or eliminate it altogether. Below, our Orlando credit card debt attorney explains more.

Common Causes of Credit Card Debt

People who struggle with credit card debt are not irresponsible. Most often, there have been unforeseen circumstances that have led to credit card debt. The most common of these are as follows:

Unforeseen expenses: Auto repairs, medical bills, and other unforeseen expenses can cause people to rely on their credit card and end up with debt they cannot repay.
Job loss or change in income: Job loss or a reduction of hours can make it challenging to pay many types of debt, including credit card debt.
High interest rates: Generally speaking, banks that issue credit cards cannot change the interest rate for the first year. After that time, they can change it but they are required to provide you with 45 days notice before raising interest.

Bankruptcy is an Option for Credit Card Debt

There is a lot of misinformation about the bankruptcy laws in the United States. Many credit card companies will actually tell you that you cannot discharge your debt by filing for bankruptcy. This is just not true. Most consumers who want to eliminate credit card debt through bankruptcy will choose of the two following options:

Chapter 7 bankruptcy: If you are eligible for Chapter 7 bankruptcy, you can likely discharge all of your credit card debt, meaning you will not be responsible for paying anything to the credit card companies. To qualify for Chapter 7, you must pass a means test showing you are not able to repay your debt. If you do not qualify for Chapter 7, you will have to file Chapter 13 bankruptcy.
Chapter 13 bankruptcy: Chapter 13 bankruptcy allows you to restructure your debt into a repayment plan. These plans typically extend between three and five years, which can make it more affordable to repay your debt. If you still have credit card debt after completing the plan, it may be discharged.

How to Avoid Fraud Accusations

There are many bankruptcy laws and it is important to comply with all of them so you do not run into problems in the future. When trying to eliminate credit card debt through bankruptcy, you cannot charge anything to your credit card in the 90 days before you file. Doing so can disqualify you from obtaining the bankruptcy protection you need.

Our Credit Card Debt Attorney in Orlando Can Provide the Legal Advice You Need

At Florida Law Advisers, P.A., our Orlando credit card debt attorney can help you understand your legal options and guide you through the process so you obtain the best possible outcome. Call us now at 1 (800) 990-7763 or contact us online to schedule a consultation and to learn more about how we can help with your case.