Almost every Chapter 7 bankruptcy client I meet with expresses concern over not paying back their corporate creditors (credit card companies). Meanwhile, their family cuts back on necessary medical care, healthy food, and contributions to retirement accounts.
If you are having a hard time financially and share this concern, please read this article from the Charlotte Observer about bank profits reaching 5 year highs during our current financial crisis.
During 2008 and 2009, your credit card company probably increased your interest rate up to 29% even if you made every payment on time. They explain that this was necessary because of the difficulty in our economy. This outrageous claim does not line up with the facts. Instead, it is more of the same marketing designed to mask how they game the system.
Filing a bankruptcy case is a business decision based on what is best for you and your family. It is likely that we can eliminate all or most of your credit card debt. If you would like to learn what your options are, I would be pleased to schedule a free, initial consultation.
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