Bowie, Maryland Credit Card Debt Relief Attorney

Experienced Bankruptcy Lawyer Helping With Credit Card Debts in Bowie

It is estimated that over three-quarters of American adults have at least one credit card, with the average person having around four. Credit cards provide instant access to funds for unexpected expenses and basic needs, but carrying a balance can be costly. High interest rates, late payment fees, and the temptation of making only the minimum payment can leave you with a hefty balance that you may wonder if you can ever pay off. In this situation, you need Hope for a brighter financial future.

Attorney Hope Blocton at Bloc One Services, LLC is "the people's attorney." She understands how easy it is to accumulate high credit card balances, and she wants to help you turn your financial setbacks into comebacks. By thoroughly understanding your situation, we can offer tailored solutions. We may be able to help you negotiate with a credit card issuer for settlement terms, but if you have additional types of debt as well, debt relief through bankruptcy may be your best option. We offer exceptional legal services at a fair and reasonable price. Call 240-200-0076 now to request your complimentary case review.

Ending the Vicious Cycle of Credit Card Debt in Bowie, Maryland

Credit cards are useful tools that can help you bridge the gap when your income is not enough to pay your bills and buy necessities, but relying on them on a regular basis can drag you deeper into debt. Credit card companies allow you to make minimum payments that are usually low, which can seem like a great thing when your monthly finances are tight. However, those amounts often just cover interest and do little to reduce your principal balance.

Interest charges for balances carried to the next billing cycle can significantly increase the amount owed. This snowball effect can turn into an avalanche, quickly burying you under a mountain of debt. When you have to make credit card payments, you may not have enough money left over to purchase groceries or gas with cash. You may have no choice but to make new charges on your credit cards. This vicious cycle benefits the card issuer, but it often causes more problems for you than it solves.

If you get behind on your payments or go over your credit limit, credit card companies are quick to demand payment. They may harass you and threaten legal action. If you only have one card, your lawyer may recommend negotiating a workable repayment plan with the company. However, bankruptcy may be a better option.

Addressing Credit Card Debt Relief Through Bankruptcy in Maryland

If your credit card debt is high, you are not alone. Recent statistics reveal that the average American has approximately $6,000 in credit card debt.

If you pass the means test for Chapter 7 bankruptcy, your credit card debt could be discharged. That means the debt would be erased. You could, however, be forced to liquidate some of your assets. Many kinds of assets are exempt, and your attorney will help you protect as much as possible.

With Chapter 13, you probably will not have to pay the entire credit card balance that you owe. Instead, you would use most of your disposable income to repay a portion of the debts over time. Most plans give you three to five years to complete payments. After you make all the required payments, any remaining balances will be eliminated.

Call Our Bowie, MD Bankruptcy and Credit Card Debt Lawyer

There are a lot of bankruptcy lawyers who could technically handle your case, but you deserve to work with an established attorney who will work hard to provide the Hope you need for a fresh start. Bloc One Services, LLC serves clients in Washington D.C. and Charles, Prince George's, and Montgomery Counties in Maryland. Call 240-200-0076 or contact us online today to book your no-cost consultation.