Ventura Credit Card Debt Lawyer

The average American adult has between three and four credit cards, an average credit limit of around $30,000, and over $8,000 in revolving debt growing month after month. Younger adults are more likely to charge more and be delinquent in their accounts, but credit card debt affects people of all ages. Once reserved for large, one-time purchases, many people today rely on their credit cards to get by from month to month, charging daily necessities like groceries, gas and utilities. Monthly expenses seem affordable when all you have to do is meet a minimum payment on the credit card bill. But every month the balance doesn’t get paid off, the interest grows. And every time a payment is late or missed, hefty fees get imposed. At some point, even the minimum monthly payment gets too much to bear. At that point, the credit card company sends the account to collections or files a lawsuit to get paid.

There are several ways to deal with credit card debt effectively, including eliminating it in bankruptcy or negotiating a settlement with the credit card company. The Board-Certified bankruptcy specialists at Wadhwani & Shanfeld can explore your bankruptcy and non-bankruptcy options with you and pursue the avenue that makes the most sense in your particular case. It all starts with a complimentary consultation at our office or over the phone. Contact our Ventura credit card debt lawyers today to get the help you need to live a life with less financial stress and greater financial freedom.

Eliminate Credit Card Debt in Bankruptcy

In bankruptcy terms, credit card debt belongs to a category of debt known as nonpriority, unsecured debt. As such, it can be eliminated, or discharged, by the bankruptcy court in a Chapter 7 bankruptcy. Once discharged, you are no longer responsible for repaying that debt.

If you don’t qualify for Chapter 7 or prefer to file Chapter 13 for other reasons, credit card debt can be adjusted and included in your Chapter 13 plan where you only pay what you can afford, which might be nothing at all. At the conclusion of your Chapter 13, you can obtain a discharge of any unpaid credit card debt.

Settle Your Credit Card Debt for a Fraction of the Outstanding Amount

If bankruptcy is not an option for you or is something you are hoping to avoid, Wadhwani & Shanfeld can negotiate a settlement of your credit card debt with the credit card company. Based on the fact that creditors get nothing in bankruptcy, many would be open to accepting a lesser amount to settle the outstanding debt. Knowing that we are a bankruptcy law firm with Board-Certified specialists in bankruptcy and thousands of cases under our belt, credit card companies and the law firms that represent them consider our settlement discussions very seriously. Having a credible threat of bankruptcy at our disposal goes a long way toward achieving favorable settlements.

Effective Relief From Overwhelming Credit Card Debt

Our lawyers at Wadhwani & Shanfeld go to work right away determining the status of your credit card accounts, including whether they are late, in collections, or already have a lawsuit pending. We’ll take the appropriate action or response, including entering negotiations or filing for bankruptcy and taking advantage of the automatic stay that puts a halt to any lawsuits or collections. We’ll proceed rapidly to get great results efficiently and effectively.

Watch Out for Debt Settlement Companies Not Run by Law Firms

You might come across private companies – not law firms – promising to deal with your credit card debt through debt settlement or debt consolidation. These companies often sell you on a long term plan that has virtually no chance of succeeding. In the interim, they typically charge excessive settlement and maintenance fees, all with very little transparency. Sadly, some of these companies are simply scams and have no intention of delivering the promised results.

As a California-licensed law firm, Wadhwani & Shanfeld is ethically bound to represent your interests diligently and competently. We keep you well informed throughout the process and our reasonable fees will be fully explained to you. In other words, you’ll know from the start what our fees will be so you can make a sound decision and proceed with trust and confidence that we will do our best for you.

Contact Our Ventura Credit Card Debt Lawyers Today

Credit card debt is a major source of financial stress and trouble for Californians today, with interest rates as high as 25% or more and exorbitant late fees adding to a mountain of debt that literally grows by the minute. Take steps today to take control of your credit card debt by contacting the Ventura credit card debt attorneys of Wadhwani & Shanfeld for a complimentary consultation. Call now to speak to a lawyer now and get started today getting the help you need.