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Legal help in dealing with credit cards and massive debt

On Behalf of | Aug 25, 2017 | Credit Card Debt, Firm News |

Floridians who are in tough financial straits and are not interested in filing for bankruptcy might think they are at the mercy of credit card companies and debt collectors who will simply not leave them alone. They call constantly and engage in creditor harassment, allude to what can happen to a person’s credit and property if they do not pay off their credit cards and generally make their lives difficult. What debtors might not be aware of is that they have certain protections available to them and can get the creditors to back off if they hire a qualified debt lawyer who understands how to handle credit card debt.

Companies and collections agencies will try to get debtors to pay whatever they can to settle a debt and continue with the harassment on an ongoing basis. In some cases, they try to get payments for debts the person does not even owe. Having legal assistance is vital as it can make the company prove that the debt belongs to this person. It can also result in the company negotiating to reduce or even eliminate some of the debt.

Collections companies often purchase debt from creditors. Some companies claim to have done so, but really have not. A credit card company will frequently add various fees and interest rates that the debtor did not know were possible. There are legal protections such as the Credit Card Accountability Responsibility and Disclosure Act and the Fair Debt Collection Practices Act to keep creditors and collection companies from going beyond the line in their tactics and getting away with it.

Owing substantial debt on credit cards without an ability to pay can be a frightening experience. Many people who do not want to file for bankruptcy do not know where to turn. A legal professional who is experienced in dealing with credit card companies and collection agencies can help to formulate a plan to get back into better financial standing and deal with the debt. Contacting an attorney is the first step to getting the finances back in order.