You Do Not Have To Live In The Shadow Of Credit Card Debt

It is easy to find yourself unable to pay credit card debt. Many credit card companies purposefully lure in consumers with low-interest offers, only to hike up the rate if you make a single late payment or after the designated "introductory offer."

While credit cards have become a part of the American way of life, because they charge high interest rates it can be easy for debt to skyrocket out of control. If you have more credit card debt than you can ever hope to pay back, you should meet with an attorney to discuss bankruptcy as an option for debt relief.

At Billbusters, Ledford, Wu & Borges, LLC, we provide experienced, personalized and cost-effective bankruptcy representation. Our attorneys have all focused their careers exclusively on bankruptcy and consumer rights representation. They work one-on-one with each client to develop a comprehensive debt relief strategy.

Dealing With Credit Card Debt Through Bankruptcy

If you file for bankruptcy to address your credit card debt, you will have two options: filing for Chapter 7 bankruptcy or filing for Chapter 13 bankruptcy. You may be able to eliminate all of your credit card debt, along with other debts, with a Chapter 7. With a Chapter 13, you can consolidate your debt and enter into a repayment plan that usually only requires you to repay a portion of your debt, interest free, over three to five years.

Universal Default Spiraling Interest Rates And Minimum Payments

The "Universal Default" law basically states that if you default on one payment to one credit card, all of your credit cards have the right to be notified and to raise your interest rates and minimum payments to the maximum level allowed. Suddenly, one missed payment can destroy your credit, your budget and make your debt unmanageable.

Has this happened to you? Are you considering filing for bankruptcy? Only an experienced bankruptcy lawyer can give you the information you will need to make an informed decision regarding your next steps. To discuss your options during a free initial consultation with an attorney at Billbusters, Ledford, Wu & Borges, LLC, call us at 312-651-4200 or contact our offices online today.

Billbusters, Ledford, Wu & Borges, LLC has offices in Downtown Chicago, the South Side of Chicago, Homewood, North Riverside/Berwyn, the Northwest Side and the Southeast Side.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.