Are you getting calls from creditors or collection agencies because you can't afford to pay off your credit card debt? At The Law Offices of Jonathan P. Shultz, we understand how frightening and overwhelming this can be. We get that you are likely confused by the legal process and don’t know what to expect moving forward. Our compassionate and knowledgeable legal team is here to explain your rights and help you understand your options for negotiating credit card debt, along with possible defenses if you are facing a credit card debt lawsuit.
When you file for either Chapter 13 or Chapter 7 bankruptcy, the federal court will issue an order called an “automatic stay.” This order informs all of your creditors and any collection agencies they have hired that they must halt all repossession and collection actions.
However, even if you don’t file for bankruptcy, you still have rights if you are being sued by credit card companies or debt collectors. The Law Offices of Jonathan P. Shultz proudly defends clients across Denver and Arapahoe County, and we will gladly take the time to help you explore all of your options so you can make informed decisions.
In addition to Chapter 7 and Chapter 13 bankruptcy, there are also credit counseling and debt settlement plans that you may be able to take advantage of if you are struggling with credit card debt.
Credit counseling allows debtors to pay back all their creditors, in full, with an adjusted interest rate over five to seven years. However, many people who use this option find that they are no closer to being debt free than when they started because their monthly payments generally increase. Additionally, some of your creditors may not agree to the management plan, and your account can still be marked as seriously delinquent.
With a debt settlement plan, debtors can discuss their financial setbacks and directly negotiate with their creditors to try to eliminate a significant portion of what they owe. If your creditors sympathize with and understand your hardships, they will offer a settlement deal to satisfy the balance of your debts. Under a debt settlement plan, you don’t need to file bankruptcy and can still eliminate a vast portion of your debts in 30 months or less.
When you turn to The Law Offices of Jonathan P. Shultz to get help with managing your credit card debt, our compassionate and friendly staff will take the time to review all your options so you can make the best decision for yourself and your family.
Our legal team understands that facing financial difficulties can be overwhelming. That is why one of our core principles is providing cost-effective legal representation. We maintain low overhead costs so we can pass the savings on to our clients through flexible payment terms.