If you’re overwhelmed by credit card debt, you’re not alone. According to the Federal Reserve, U.S. consumers are currently carrying more than $800 billion in credit card debt. And, about 4 million of those credit card accounts are delinquent. The average balance on a credit card is now almost $6,200, and the typical American holds four credit cards, according to the credit bureau Experian. Fortunately, help is available.
We understand credit card debt isn't just a result of
careless spending. Many people in Georgia incur credit card debt because
they're having trouble covering their basic living expenses. Unexpected medical
bills, car repairs, home repairs, and sometimes just day to day life can make
using your credit card necessary.
There is Relief from Credit Card Debt
Credit card debt can leave you feeling like there’s no way
out. Balances keep growing, and then harassing telephone calls start to interrupt
your home and work life. Creditors and debt collectors want you to believe
there’s no hope, that there’s no way forward except making payments you can’t
afford. Fortunately, that’s just not true. King & King can help you file
bankruptcy and wipe out your credit card debt so you get a fresh start. Chapter 7 Bankruptcy will also clear your personal loans, payday loans, and medical
bills in most cases.
There are certain conditions that need to be met in order to
qualify for chapter 7 bankruptcy. You will have to pass the means test. This is
an income based test where your income has to be below a certain amount based
on your family size, your attorney can walk you through this process.
If you find yourself facing insurmountable credit card debt,
King & King can help. Call today at 404-524-6400 for a free consultation.
We can advise you of what is the best way for you to eliminate credit card debt
and get a fresh start.
