Buried in Credit Card Debt? There is a Way Out

Credit card debt is a serious issue that continues to grow each year in the United States. Figures by the Federal Reserve demonstrate that the average American has four credit cards and has access to approximately $19,000 in combined credit card funds. Last year, U.S. citizens carried more than $886 billion in credit card debt – this according to the U.S. Census Bureau. This astounding number is expected to grow to $1.177 trillion this year.


Credit cards get swiped more than most Americans realize. From the grocery store to the gas pump, from the mall, to cell phone bills, Americans are always bringing out their credit card. Before people know it, they’ve spent more on their plastic card than their bank account can support. Many people try to pay off their debt using their own means, such as making monthly minimum payments or taking money from their savings account. However, these solutions don't always work and many are still left buried deep in credit card debt. Fortunately, there are solutions.


You can file for bankruptcy. Although, most view filing for bankruptcy as a desperate measure, to be avoided at all costs, bankruptcy is a solution to solving your credit card debt issue. It can even come with several benefits.


For starters, filing for bankruptcy will immediately dig you out of your debt hole. Your debt will be liquidated to creditors, and you will no longer have to be concerned about paying off bills. In addition, you will no longer have to receive repetitive, annoying phone calls from creditors about your payments. This means, no more threats about facing the consequence of losing personal assets, such as home furniture and your car.


Once you're out of debt, you have the opportunity to start fresh. Your previous bad payment history is eliminated and you can now improve your credit score. Since you've already been down the road of bad spending habits before, you can make educated decisions about how you spend your money moving forward.


If you're ready to live without the burden of trying to pay off your large amount of credit card debt, then speak to a Jacksonville bankruptcy lawyer, from our law offices today. We have the most talented team of bankruptcy lawyers in the state and look forward to helping you climb out of debt.