Credit Card Debt in Bellevue

The cycle of unpaid credit cards can send you down the rabbit hole of debt, especially when high interest rates compound. Eventually, you're paying more on the interest than the credit card debt, until you get to a point where paying it off is impossible. Adding insult to injury, credit card companies will sell off debt for pennies on the dollar in as few as three months, and the debt collector who buys your debt will do just about anything to get you to pay.

Regardless of how a debt collector makes you feel, falling behind on your credit card debt does not make you a failure in life or a bad person. Don't let the unscrupulous tactics of these collection agencies cause you to lose another night's sleep. Our credit card relief lawyers in Bellevue handle countess bankruptcy cases every year. In most of these cases, honest people simply watched their credit card debt spiral out of control, even though they were doing everything they could to catch up.

Bankruptcy laws originated from our federal government, offering a way for hard working people to get back on their feet financially and wrestle free from the crushing grip of debt. Petitioning the court for bankruptcy immediately stops ALL collection. Even harassing phone calls and wage garnishment will stop, and if your bankruptcy is approved your credit card debt will most likely be partially or entirely discharged.

• In most Chapter 7 bankruptcy cases in Washington, credit card debt is entirely discharged
• With Chapter 13 bankruptcy, the credit card company receives a percentage of your debt based on what you can afford, which is often little to nothing
• Collections on credit card debt stop when bankruptcy is declared, even if your earnings are being garnished via a law suit
• If you want to get rid of your credit card debt, contact our law office in Bellevue and speak to a qualified bankruptcy attorney

Many people living in Bellevue fall behind on credit card debt because they are laid off from their job or face a troublesome unexpected illness. Credit card companies willingly offer exorbitant credit lines based on a high interest rate, fully aware that it could lead to problems for the cardholder if something unexpected affects their income.

When you fall behind on your payments, credit card companies show no mercy and may even quickly sell the debt to a collection agency. These debt collection companies can be even worse and will say or do just about anything to force you to pay. They may call you at any hour of day or night, at home, at work, or even suggest you use your retirement savings to make a payment. If you submit to these high-pressure tactics, you could make the mistake of damaging your finances even further, and still have the credit card debt.

When your bankruptcy attorney in King County files your bankruptcy in court, creditors are no longer legally allowed to contact you in any way. All debt collection stops. Credit cards debt is the last in line for repayment when filing for bankruptcy. If you file for Chapter 7 bankruptcy, you will most likely pay nothing. If you file Chapter 13, you are only obligated to pay what you can afford, which is usually nothing.

If you're considering filing for bankruptcy, our Bellevue attorneys urge you to stop making charges on your credit cards. You could also stop making payments immediately, which will free up cash flow for other purposes, like getting caught up on car payments. Do not wait too long to file for bankruptcy after stopping credit card payments because you don't want the creditor to sue you for wage garnishment.

If you're concerned about your credit score, please note that when the bankruptcy process is complete and your debt is discharged, your credit will immediately start to improve. In most cases, filing for bankruptcy is better than settling delinquent credit card debt, because the latter damage your credit score even more.

To get more information, contact a Bellevue credit card debt relief attorney from our Washington law office today for a free evaluation of your finances.