CREDIT CARD DEBT

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  • FEELING OVERWHELMED?
  • NEED TO REDUCE YOUR CREDIT CARD DEBT?

If you are feeling overwhelmed and need to lower your credit card debt, contact us for a FREE consultation to learn more about how our debt relief services can help you. We help many of our clients nationwide save money and get out of credit card debt with debt settlement. Find out how to get out of debt without bankruptcy. Many Americans can only afford to make the minimum payment on their credit cards.

CREDIT CARD

Once you get caught in that trap, your monthly statement will tell you your grim future. If the A.P.R. on your credit card is 18%, you will likely pay back about twice what you owe and depending on how high the balance, you could be paying for 20 years before the full debt is paid off. To see if you qualify to reduce your credit card debt fast, then contact us for a FREE Debt Consultation.

The profits the banks make are maddening. The banks love it when you only pay the minimum due. You are their best friend. But, what happens if you miss a payment? The banks slap you with their penalty rate of 29.99%. Now, your already difficult minimum payment just jumped higher and the length of time to pay off this debt just doubled. And your old best friend, the credit card company? They fight dirty, putting you into collections and starting the repetitive robo-calls to your house and employer, or even taking you to court.

Resolve your credit card debt problems with debt relief services from attorney Jonathan Haskett.

GET DEBT HELP NOW

Contact a debt relief attorney now for credit card debt help. Serving consumers nationwide with offices in San Diego and Los Angeles, California.

WHAT ARE MY OPTIONS FOR CREDIT CARD DEBT

While bankruptcy is always a last resort, there are other options for credit card debt.

1

CONSOLIDATE DEBT:

If you have several debts carrying high interest rates, you might consider debt consolidation. This arrangement involves taking out a new loan, the funds from which go toward paying down the other accounts. The end result is that you’re paying just one bill instead of several and you might be able to negotiate a lower interest rate and reduce monthly payments. However, consolidating doesn’t reduce the total amount you owe.

2

HARDSHIP PROGRAMS:

Some lenders are willing to negotiate a new payment plan if you qualify for a hardship program. If you have a long-term illness, a disability preventing you from working or a military deployment, some companies may be willing to work with you to lower payments or allow you to suspend them. You’ll need proof to support your claim for a hardship in order for a company to approve the arrangement.

3

DEBT SETTLEMENT:

A debt settlement is when a consumer negotiates with their creditor (the credit card company) to reduce the overall amount of debt that you owe. Once your overall debt amount is reduced, then you pay it off in a lump sum or over a short-term payment plan. Credit card debt settlement is a good choice if you have more debt than you can pay off in a 2-3 year period or if you have experienced a significant financial hardship that has caused you to fall behind on your monthly payments.

NEED CREDIT CARD LAWSUIT HELP?

If you are being used for credit card debt, then we can defend you. An experienced debt defense attorney will fight the big banks for you. Call 844-729-4866 for a free consultation.

WHY WOULD A CREDIT CARD COMPANY AGREE TO A DEBT SETTLEMENT?

It’s no big secret that banks are in the business of making money. Especially when they get a consumer stuck in the cycle of paying the minimum monthly payment, resulting in a small principal pay down. But, once you stop paying the minimum, they lose their income and debt settlement allows them a way out, since the banks can now claim your account as a loss. They then use the losses to offset other profits and reap the benefit of creative bookkeeping. The banks would rather get some of the debt you owe them than to have you declare bankruptcy and receive nothing. Besides, settling your debt means no more costly legal court battles.

CAN I NEGOTIATE A DEBT SETTLEMENT ON MY OWN?

Credit card debt settlement contains no “secret sauce” formula. If you owe a small amount to one or two creditors you could talk to them to settle your accounts yourself. However, if you owe significantly more money, you should consult an experienced debt settlement attorney. It’s often difficult to determine what defines a good settlement. Should you disclose your financials? Is the offer you receive the best you’re going to get? What makes this a valid offer? Does it need to be in writing? Is the written offer valid and binding on all parties? Hiring an experienced and knowledgeable credit card debt relief attorney will relieve you of the stress of dealing with this situation on your own. Imagine the relief you will feel knowing that an experienced credit card debt relief attorney will handle all of the negotiations, finalize all of the settlements and create a plan to fund these settlements.

WHY US FOR A CREDIT CARD DEBT SETTLEMENT?

At The Debt Settlement Lawyer we have successfully saved our clients thousands of dollars in credit card debt through debt settlements. Through a debt settlement, our firm negotiates aggressively with your creditors to reduce the total amount that you will pay back. Oftentimes, we can cut your debt in half or more. Call San Diego debt relief attorney Jonathan at 844-729-4866 for a free consultation to go over your credit card debt options.

TO LEARN MORE ABOUT DEBT SETTLEMENT, VISIT OUR FAQ PAGE

CREDIT CARD DEBT SETTLEMENT SUCCESS STORIES



JODI T.
Jodi moved overseas but owed private student loans to Navient. Once she retained us, we confirmed that our client owed $346,372.11 on these student loans. During our representation of this client, the balance continued to accrue interest and increased to $356,324.48. Fortunately, our client had access to funds from relatives to assist in the settlement of this debt. We negotiated with Navient to settle this private student loan for $122,000.00.

Through a creative payment arrangement she is paying a portion of this amount up front, then smaller monthly payments for several years and a lump sum balloon payment at the end. This is a settlement of approximately 34% of the balance due – a savings of over $234,000.00.


KATE J.
Kate owed Navient approximately $24,800.00 for private student loans taken out to fund her education. These loans originated with Sallie Mae and were taken over by Navient when they went into collections due to her inability to pay back the loans when they became due. During the collection process, the loans were eventually transferred to Weltman, Weinberg & Reis, a collection law firm based out of Ohio. We know this firm well, since they are usually considered the last stop for Navient loans. After a series of phone calls and negotiations explaining our client’s hardships, they agreed to accept a settlement of $10,000.00, payable in a lump sum to fully settle this account.

We saved our client in excess of $14,000.00 on her private student loans. She will no longer face harassment from Navient for collection of these loans or have the burden of this student loan debt looming over her.


RICHARD P.
Not to pick on Navient AGAIN, but… Richard co-signed for a private student loan for his daughter through loan-giant Navient. They originally took out an $11,000.00 loan, but due to accruing interest, the balance increased to $27.000.00. Navient eventually referred the account to a California law firm – Harris & Zide. They threatened to sue our client if the account could not be settled. This is a rather recent development that Navient is referring loans out for litigation – something we have not seen in recent years.

Fortunately, we have handled files against this firm for a number of years now. Through a series of negotiations, we reached a settlement of $13,500.00 on this loan, payable in a lump sum. This is 50% of the balance claimed due. More importantly, we helped our client avoid being sued on this private student loan.


SAM S.
Sam owed Sallie Mae $21,868.80 on a private student loan. His mother co-signed on this loan. He could not keep up with the loan payments and it went into default. After collection attempts were mounted, we were brought on to see what we could do to assist on a settlement. We negotiated with Sallie Mae to get the account settled for $13,171.00, which is 60% of the amount due. The co-signer had been setting aside money monthly with us to achieve this settlement.

Not only did we save our client 60% of the amount due, but we are also sending her back the portion of the money she set aside with us for settlement that we didn’t end up needing for settlement of this private student loan.


JAMES N.
James owed Navient $83,739.80 on his private student loans. He became unable to make the monthly payments. His loans then went through Navient’s internal collections and internal recovery departments for months. As usual, Navient made threats that if payments did not resume, the accounts would be “taken to the next level” among other idle threats. The loans eventually got referred out to the law firm Weltman, Weinberg & Reis, an Ohio-based law firm. Once with their offices we were able to negotiate a deal Navient claimed would never happen.

We settled this private student loan for $35,000.00. Our client paid 10% of that amount down and will have the next 105 months to pay off the balance of the settlement at $300.00 per month. We saved our client $48,739.00 on his private student loans owed to Navient.
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RESOURCES FOR CREDIT CARD DEBT

Credit card debt help to set you on the path to financial freedom. Knowing how to properly use a credit card is the key to responsibly managing your credit. Become more familiar with credit related topics to enhance your knowledge of how credit affects you and your financial life. Below are some credit card debt articles & more! For more information on credit card debt relief, credit card debt settlement and other types of debt solutions, contact our office for a free debt consultation to see how we can help!

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