If you are experiencing difficulties making payments on your credit cards, we encourage you to contact our office at (832) 975-7300 to discuss the options available to you and help you get in front of the issue.
Credit card debt reached $830 billion, according to Experian data from the second quarter of 2019. Growth in the second quarter credit card debt has risen steadily for eight years straight going back to 2012. Credit card debt grew 6% year over year in the second quarter of 2019 and is the second-fastest growing debt behind personal loans. In an Experian 2019 Consumer Debt Study, Texas had the highest increases in overall debt among the states over the past decade. Often, when faced with an overwhelming or intimidating credit card balance, consumers either ignore the debt, or only make the minimum payment, both of which could have significant consequences such as higher interest rates, higher minimum payments, and late fees. In addition, missing even one payment can negatively affect your credit score. A variety of factors, including the convenience and security of carrying a credit card, to an unforeseen circumstance, such as losing a job or a medical emergency, which lead to using credit cards to cover expenses, can result in unmanageable debt. Credit collection agencies can be relentless and aggressive, repeatedly calling and sending letters. Regardless of the events leading up to the accumulation of credit card debt, if it has become unmanageable and burdensome, you have options to eliminate credit card debt.
In a Chapter 7 bankruptcy proceeding, depending on your specific situation, your unsecured debt is eliminated and, usually within a period of 4 months, the case is completed all permitted dischargeable debts are discharged forever, thus providing you with an opportunity for a fresh start without the overwhelming financial hardship those debts created. Particularly, Chapter 7 can be effective in financial hardships such as credit card debt, judgments, garnishments, lawsuits, medical bills, payday loans, deficiencies from repossessions or foreclosures, business debt or business closure.
In a Chapter 13 bankruptcy proceeding, depending on your specific situation, you will propose a repayment plan to make installments to creditors over a period of three to five years. Following such period, individuals are provided with an opportunity for a fresh start without the financial hardship of the overwhelming debt.
At Tran Singh LLP, you will find local Houston attorneys specializing in bankruptcy and debt relief services. We are dedicated to our clients and strive to offer legal advice with care and compassion understanding the overwhelming burdens you may be experiencing when facing financial difficulties, including when falling behind on payments to your creditors. We encourage you not to wait another day to reach out to us. Please use our Initial Consultation Form or call our office at (832) 975-7300 to schedule your free and confidential consultation and allow us an opportunity to assist you on the path regaining control over your finances.
Credit card debt reached $830 billion, according to Experian data from the second quarter of 2019. Growth in the second quarter credit card debt has risen steadily for eight years straight going back to 2012. Credit card debt grew 6% year over year in the second quarter of 2019 and is the second-fastest growing debt behind personal loans. In an Experian 2019 Consumer Debt Study, Texas had the highest increases in overall debt among the states over the past decade. Often, when faced with an overwhelming or intimidating credit card balance, consumers either ignore the debt, or only make the minimum payment, both of which could have significant consequences such as higher interest rates, higher minimum payments, and late fees. In addition, missing even one payment can negatively affect your credit score. A variety of factors, including the convenience and security of carrying a credit card, to an unforeseen circumstance, such as losing a job or a medical emergency, which lead to using credit cards to cover expenses, can result in unmanageable debt. Credit collection agencies can be relentless and aggressive, repeatedly calling and sending letters. Regardless of the events leading up to the accumulation of credit card debt, if it has become unmanageable and burdensome, you have options to eliminate credit card debt.
In a Chapter 7 bankruptcy proceeding, depending on your specific situation, your unsecured debt is eliminated and, usually within a period of 4 months, the case is completed all permitted dischargeable debts are discharged forever, thus providing you with an opportunity for a fresh start without the overwhelming financial hardship those debts created. Particularly, Chapter 7 can be effective in financial hardships such as credit card debt, judgments, garnishments, lawsuits, medical bills, payday loans, deficiencies from repossessions or foreclosures, business debt or business closure.
In a Chapter 13 bankruptcy proceeding, depending on your specific situation, you will propose a repayment plan to make installments to creditors over a period of three to five years. Following such period, individuals are provided with an opportunity for a fresh start without the financial hardship of the overwhelming debt.
At Tran Singh LLP, you will find local Houston attorneys specializing in bankruptcy and debt relief services. We are dedicated to our clients and strive to offer legal advice with care and compassion understanding the overwhelming burdens you may be experiencing when facing financial difficulties, including when falling behind on payments to your creditors. We encourage you not to wait another day to reach out to us. Please use our Initial Consultation Form or call our office at (832) 975-7300 to schedule your free and confidential consultation and allow us an opportunity to assist you on the path regaining control over your finances.
What Now?
Click on the links below to navigate to the pages providing additional information on Chapter 7 and Chapter 13 bankruptcy and for more details on options that may be available to you.
Click on the links below to navigate to the pages providing additional information on Chapter 7 and Chapter 13 bankruptcy and for more details on options that may be available to you.
Have you scheduled an initial consultation with us?
Click below to navigate to the Consumer Bankruptcy Consultation Checklist, a guide prepared with you in mind, and summarizes the information and documentation you will need to provide for your case.
Click below to navigate to the Consumer Bankruptcy Consultation Checklist, a guide prepared with you in mind, and summarizes the information and documentation you will need to provide for your case.
Questions?
Ready to take the next step toward financial freedom, click below to be directed to our Initial Consultation Form.
Ready to take the next step toward financial freedom, click below to be directed to our Initial Consultation Form.
TRAN SINGH LLP
2502 La Branch Street | Houston, Texas 77004 | Phone: (832) 975-7300 | Fax: (832) 975-7301 | Email: [email protected]
DISCLAIMER AND LEGAL NOTICE
We are a debt relief agency. We help people file for relief under the Bankruptcy Code.
2502 La Branch Street | Houston, Texas 77004 | Phone: (832) 975-7300 | Fax: (832) 975-7301 | Email: [email protected]
DISCLAIMER AND LEGAL NOTICE
We are a debt relief agency. We help people file for relief under the Bankruptcy Code.