Paying off your credit card seems like a never-ending cycle, because it is. With the insanely high interest rates you are charged, you often pay 5-10 times the amount your originally borrowed. By paying your monthly minimum payments only, it may take up to 20 years to pay off your debt. If you are treading water in staggering credit card bills, bankruptcy may be your best option. A lawyer at our firm can help determine if this is right for you.
We are the attorneys at the Portage, Michigan area law firm of Jason Allen Law, and we help individuals file for Chapter 7 and Chapter 13 bankruptcies. Our firm is focused solely on bankruptcy law and we have handled thousands of bankruptcies eliminating tens of millions of dollars. We meet in person with our clients and take the time to listen to their needs and find solutions for their specific situation.
Bankruptcy or Debt Reduction Settlement?
Debt settlements and loan consolidation programs do not offer the same benefits as filing for bankruptcy. They take forever, cost more, and hurt your credit worse than a bankruptcy.
In a Chapter 7 bankruptcy, unsecured debts can be completely wiped away. Some unsecured debts include credit card debts, medical debts, repossessions, broken leases and many other debts. Once you file for bankruptcy, you are able to:
- Start on a fresh financial path
- Rebuild and establish your credit
- Contribute to the economy again