If you have recently lost your job or had to pay off an unexpected, urgent expense, you may be having a difficult time paying off your credit card debt. This has been a growing problem for Americans in recent years due to a constantly fluctuating economy. At Wolfson Bolton, we understand how stressful debt can be, and our capable lawyers can help you figure out a plan for the future. By filing either Chapter 7 or Chapter 13 bankruptcy, you may be able to discharge or restructure your debt while protecting your vital assets, including your retirement fund.
Under the Federal Fair Debt Collections Practices Act (FDCPA), collection companies cannot contact debtors once they are represented by an attorney. The only way to reach you is to go through your lawyer. This is the first major step to protecting yourself and your family from creditors.
At Wolfson Bolton PLLC, we will seek cost effective solutions for you to dismiss or pay off your credit card debt at little to no further detriment to you. All the while, the creditors won’t be able to contact you and add further stress to your situation.
Bankruptcy has developed a bad reputation, leading many people to believe that if they need to file for bankruptcy, their situation is somehow hopeless. This is not the case. Bankruptcy is a tool to help people get back on their feet and secure their financial future.
Different types of bankruptcy affect your debt in various ways:
- Chapter 7 bankruptcy: If you qualify for Chapter 7 bankruptcy, your debt can be completely eliminated, and creditors will have no choice but to leave you alone. Chapter 7 bankruptcy applies to people whose household income is below the state medium, or for people who pass the “means test.”
- Chapter 13 bankruptcy: This form of bankruptcy allows you to restructure your debt and make monthly payments to a trustee at a more manageable rate. This is perfect for people who want to pay their debts but need a little extra assistance.
Schedule a Free Consultation Today
Take the first step and learn what benefits bankruptcy protection can offer you and your family by speaking with an experienced Troy credit card debt attorney. You deserve to know your options, so initial consultations are free.
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Troy, MI 48083