Credit Card Debt Attorney In Orlando, Florida

One of the most common reasons for filing bankruptcy is to get rid of credit card debt. Whether you had to rely on credit cards to make ends meet because of job loss or unexpected expenses, or if you made too many large purchases, you are not alone in having unmanageable levels of credit card debt. Fortunately, an experienced attorney can help you get things back under control.

At the Law Office of Paul L. Urich, P.A., I have helped thousands of people get out from under the burden of credit card debt. I understand the crippling effect that massive credit card debt can have on your life, and it is my job to help you counter that effect and get a fresh financial start.

To arrange a free initial consultation to discuss your situation with an experienced Orlando credit card debt lawyer, call 407-584-1735 or contact my law firm online.

Solving Credit Card Debt Problems

There is a lot of misinformation being spread about the new bankruptcy laws. Many credit card companies will tell debtors that credit card bills can no longer be discharged. This is simply not true. Most people with significant credit card debt can still obtain relief by filing for bankruptcy.

• Chapter 7 bankruptcy: If you qualify, Chapter 7 allows you to discharge credit card debt. In other words, your credit card bills will be completely wiped out and you will not have to pay one cent to the credit card companies.
• Chapter 13 bankruptcy: Credit card debt is treated as unsecured debt, which means that you will have to pay a percentage of it. This percentage will be determined by how much you can afford to pay, and will usually be a small amount. Chapter 13 bankruptcy is a debt repayment plan that consolidates your unsecured debts, reduces the interest rates to 0 percent and gives you a manageable monthly payment amount.

Avoiding Fraud Accusations

You are not allowed to make any charges on your credit card within 90 days of filing for bankruptcy. If you do, you may be disqualified from getting bankruptcy protection. When you work with my firm, I will analyze your history of credit card usage to find any potential problems. If there are substantial charges, I may recommend waiting to file bankruptcy for a few months to avoid complications down the road.

Frequently Asked Questions About Credit Card Debt

Credit card debt frustrates a lot of people. Here are some of the most common questions I hear:

What are the main causes of credit card debt?

The main causes of credit card debt can vary, but some common factors include:

• Unplanned expenses: Medical bills, car repairs or other expenses can cause you to turn to your credit cards.
• Job or income: A loss of employment or a cut in your hours can make it challenging to meet your financial obligations, leading to credit card debt.
• High interest rates: Credit cards often come with huge interest rates, making it easy for debt to accumulate.
• Overspending: Credit card companies excel at convincing people to build up more debt because that’s how the companies make money.

The vast majority of people accumulate credit card debt slowly, in response to situations that are largely not under their control.

Will closing my credit card accounts impact my credit score?

Closing an account reduces your overall credit limit, which can increase your credit utilization ratio (the amount of credit you’re using compared to your total available credit). A higher credit utilization ratio can negatively affect your credit score. Additionally, closing older accounts may shorten your credit history, which is another factor in determining your credit score.

Will bankruptcy eliminate all of my credit card debt?

Bankruptcy can eliminate some or all of your credit card debt, depending on the type of bankruptcy you file and whether the debt is unsecured. Most of the time, Chapter 7 bankruptcy will allow you to discharge all of your credit card debt, while Chapter 13 requires you to enter into a payment plan for three to five years, after which your remaining credit card debt may be discharged.

How do I stop using my credit cards in the future to avoid having this problem again?

Setting aside a little bit of money from each paycheck for emergencies and big expenses and only using your credit cards when absolutely necessary – then paying them off right away – can help you avoid repeat problems.

Reach Out Today For A Free Consultation

To arrange a free consultation to discuss your financial situation with an experienced Florida bankruptcy lawyer, please call 407-584-1735 or contact me online.

I am a debt relief agent. I help people file for bankruptcy relief under the Bankruptcy Code.