Credit Card Debt
Almost five million Americans are now carrying delinquent balances on their credit cards. The pain caused by this phenomenon is particularly hard felt in states like Oregon and Washington where our levels of household debt are among the very highest in the nation.
Continually treading water is no fun at all. If you are carrying a balance, you can tell yourself that you are “current” or that it’s under control because you are paying the monthly minimums or you are moving the balances from card to card, but all you are really doing is keeping the wolves from the door.
Your creditors want you to carry a balance. After all, loan sharks make their money from collecting minimum interest only payments from their marks. The balances never get lower and the creditor keeps collecting from you. In a perfect creditor world, you never pay off, you just keep making that monthly payment.
The financial burden of living with credit card debt can leave you feeling like there’s escape. This is particularly true in Oregon and Washington where our household expenses, mortgages and rents are significantly higher than most other states.
Deep inside you know that if you really spent ten minutes looking at your net income and expenses and plotted repayment on a debt calculator using the applicable interest rates, you would quickly find that making that happen within your budget is probably never going to happen.
Once the dam starts to break and your account is referred out to a collector, the phone calls really start coming to you, your family and your employer. The ridiculous demands for payment in full now start coming in the early morning and at dinner. Of course they are pretty good at making you believe that they hold all the cards. Fortunately, that’s just not the case.
Northwest Debt Relief is here to level the playing field. We will make sure that you are no longer at the mercy of creditors or collectors. The truth is that we are primarily a bankruptcy law firm and we believe strongly in the power of the bankruptcy code as a tool for restoring financial harmony in people’s lives. The reality though is that bankruptcy is not appropriate for everyone. Where applicable, our attorneys can also advise you what other steps you might want to take to confront debt problems. Contact us today and let us help you get the financial fresh start that you deserve. It is time to start breathing again.