If you are struggling with credit card debt, it is important to take action. Defaulting on your payments can have harsh consequences: a debt collection lawsuit, a wage garnishment, liens on your property, and seized bank accounts. The best way to protect yourself is to contact an experienced debt relief attorney.
The Fullman Firm is a leading consumer protection and credit defense practice serving clients throughout California. Our legal team has over 40 years of combined experience helping consumers resolve their debt problems. When you work with us, we will help you explore all your debt relief options.
How Our California Credit Card Debt Relief Attorney Can Help
Once you become our client, we will review your financial situation, including your income, the amount of debt you have, the minimum monthly payments, and your day-to-day expenses (housing, utilities, food, and transportation). Our experienced attorneys will then help you figure out a budget to determine the debt relief option that works best for you. Above all, we will protect your interests and help you make a fresh start.
Debt Relief Options in California
One simple way to manage your debts is to stop using your credit cards and pay the monthly balances. By paying the minimum monthly payment, you will avoid late fees and interest rate hikes. Many people are not aware that cardholder agreements usually have hidden language that says your interest rate will be raised (often to 24 percent or more) if you fail to make payments.
Of course, if you pay the minimum amount each month, it will take you a long time to pay off your debt. And if you have high credit card balances, you may not be able to pay the monthly minimum. This is where the Fullman Firm comes in. Our legal team will advise you of possible debt relief options, including:
This debt relief method involves negotiating with your creditors to accept a lump sum payment and cancel the remaining debt. The best settlements normally happen by making a single lump sum payment. So it is helpful to have savings or the ability to borrow the money from friends or family members to use this option. However, many creditors do offer discounted payment plans.
You should know that there are disadvantages to debt settlement. First, it will lower your credit score. In addition, the debt settlement will remain on your credit report for 7 years. This means you may have difficulty opening new credit cards or borrowing money in the future. Finally, the canceled debt is considered income, so you may have to pay taxes to the state and the Internal Revenue Service. If you believe debt settlement is the way to go, Fullman Firm will negotiate with your creditor and make the best possible deal.
Contact Our Experienced Credit Card Debt Relief Attorney
If you are overwhelmed by credit card debt, don’t panic. Contact the Fullman Firm instead. Our debt relief attorneys will offer you knowledge, compassion and trustworthy advice. Because we understand the financial challenges and the stress you are dealing with, we offer affordable payment plans and flat fee rates. Don’t delay. Contact our experienced debt relief lawyers today for a free consultation.