Tuesday, August 25, 2020

Bankruptcy Can Wipe Out Credit Card Debt In Georgia

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.