Large Credit Card Debt: What Are The Options?

If you have incurred a large amount of credit card debt, chances are that it wasn’t the result of a wild shopping spree or living beyond your means.  While there are certainly a few people like that, it is not nearly as common as the media or our politicians would have you believe. The fact is that most people who wind up with high credit card bills incurred those because of unexpected emergencies, a loss of income, medical expenses, or something similar.

<The main thing is, you do not have anything to be ashamed or embarrassed about. It can happen to anyone for any number of reasons. What is most important however is that you are aware of your options for getting out from under this burden.

Bankruptcy is one option for some people, may be the only way out. Under Chapter 7 – unsecured debts can be discharged, or eliminated. This gives such individuals a clean slate – but stays on their records for ten years, during which it will impair their credit rating.

Knowing that if a consumer declares bankruptcy they will receive nothing, most credit card companies are willing to negotiate a payment plan and accept less than the amount due. If you, as a debtor, can demonstrate financial hardship and are willing to make a good faith effort to pay at least part of what you owe, these companies will work with you.

Having a negotiator on your side that is knowledgeable about the legal issues as well as your rights and responsibilities under the law is important. You can attempt to negotiate a settlement on your own, but this can be extremely stressful. Legal representation will give your case added credibility in these negotiations. This type of legal and financial expertise is what Trident brings to the table when we work with you to settle your debts with a plan that can get you debt free within months instead of years. Call today to set up your free initial consultation ($30K minimum unsecured debt required to qualify for the Trident program).