{"id":3400,"date":"2022-07-21T07:31:10","date_gmt":"2022-07-21T11:31:10","guid":{"rendered":"https:\/\/thegraftonfirm.com\/?p=3400"},"modified":"2022-07-29T07:37:48","modified_gmt":"2022-07-29T11:37:48","slug":"eliminate-credit-card-debt","status":"publish","type":"post","link":"https:\/\/thegraftonfirm.com\/blog\/eliminate-credit-card-debt","title":{"rendered":"Eliminate Credit Card Debt"},"content":{"rendered":"<h2><span class=\"ez-toc-section\" id=\"Eliminating_Credit_Card_Debt_in_Towson_MD\"><\/span><span style=\"font-weight: 400;\">Eliminating Credit Card Debt in Towson, MD<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<label for=\"ez-toc-cssicon-toggle-item-6636f7300a24e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6636f7300a24e\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/thegraftonfirm.com\/blog\/eliminate-credit-card-debt\/#Eliminating_Credit_Card_Debt_in_Towson_MD\" title=\"Eliminating Credit Card Debt in Towson, MD\">Eliminating Credit Card Debt in Towson, MD<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/thegraftonfirm.com\/blog\/eliminate-credit-card-debt\/#What_is_Credit_Card_Debt\" title=\"What is Credit Card Debt\">What is Credit Card Debt<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/thegraftonfirm.com\/blog\/eliminate-credit-card-debt\/#How_Do_I_Negotiate_Credit_Card_Debt\" title=\"How Do I Negotiate Credit Card Debt?\">How Do I Negotiate Credit Card Debt?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/thegraftonfirm.com\/blog\/eliminate-credit-card-debt\/#Do_Creditors_Forgive_Credit_Card_Debt\" title=\"Do Creditors Forgive Credit Card Debt?\">Do Creditors Forgive Credit Card Debt?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/thegraftonfirm.com\/blog\/eliminate-credit-card-debt\/#How_To_Eliminate_Credit_Card_Debt\" title=\"How To Eliminate Credit Card Debt\">How To Eliminate Credit Card Debt<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/thegraftonfirm.com\/blog\/eliminate-credit-card-debt\/#Is_It_Smart_to_Settle_Credit_Card_Debts\" title=\"Is It Smart to Settle Credit Card Debts?\">Is It Smart to Settle Credit Card Debts?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/thegraftonfirm.com\/blog\/eliminate-credit-card-debt\/#What_Are_Other_Ways_to_Eliminate_Credit_Card_Debt\" title=\"What Are Other Ways to Eliminate Credit Card Debt?\">What Are Other Ways to Eliminate Credit Card Debt?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/thegraftonfirm.com\/blog\/eliminate-credit-card-debt\/#Call_Our_Towson_MD_Bankruptcy_Attorney_Right_Now\" title=\"Call Our Towson, MD Bankruptcy Attorney Right Now!\">Call Our Towson, MD Bankruptcy Attorney Right Now!<\/a><\/li><\/ul><\/nav><\/div>\n\n<p><span style=\"font-weight: 400;\">Credit cards have posed a great convenience for most of us since it allows us to make purchases without shelling out actual cash. While this can make purchases quite a breeze, if you aren\u2019t careful, you can find yourself buried in credit card debt which could severely impact your credit record. If this is your case, know that you can get in touch with a Towson, MD bankruptcy attorney.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To define succinctly, credit card debt is a revolving kind of debt that keeps you borrowing monthly provided you can pay for it. Despite its indefinite nature, credit card debt can pile up which can ruin your finances. Credit card debt also does not improve your credit score, and a bad credit score can impact your ability to look for houses and other opportunities. Luckily, with the help of a seasoned Towson,MD bankruptcy attorney, there is always hope to clear things up.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you are having<\/span><a href=\"https:\/\/thegraftonfirm.com\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\"> troubles regarding your finances<\/span><\/a><span style=\"font-weight: 400;\">, be it with <\/span><a href=\"https:\/\/thegraftonfirm.com\/debt-resolution-services\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">credit card debt or bankruptcy<\/span><\/a><span style=\"font-weight: 400;\">, it is wise to entrust your case with a bankruptcy attorney from The Grafton Firm. A trusted bankruptcy attorney can help you with tips on how to eliminate credit card debt, enabling you to get your life back on track. Schedule an appointment with a bankruptcy attorney from the law firm right now.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_Credit_Card_Debt\"><\/span><span style=\"font-weight: 400;\">What is Credit Card Debt<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignright wp-image-3404\" title=\"how to eliminate credit card debt\" src=\"https:\/\/thegraftonfirm.com\/wp-content\/uploads\/2022\/07\/Credit-Card-Debt-attorney-2-300x168.webp\" alt=\"how to eliminate credit card debt\" width=\"389\" height=\"218\" srcset=\"https:\/\/thegraftonfirm.com\/wp-content\/uploads\/2022\/07\/Credit-Card-Debt-attorney-2-300x168.webp 300w, https:\/\/thegraftonfirm.com\/wp-content\/uploads\/2022\/07\/Credit-Card-Debt-attorney-2-1024x575.webp 1024w, https:\/\/thegraftonfirm.com\/wp-content\/uploads\/2022\/07\/Credit-Card-Debt-attorney-2-768x431.webp 768w, https:\/\/thegraftonfirm.com\/wp-content\/uploads\/2022\/07\/Credit-Card-Debt-attorney-2-1536x863.webp 1536w, https:\/\/thegraftonfirm.com\/wp-content\/uploads\/2022\/07\/Credit-Card-Debt-attorney-2-2048x1150.webp 2048w, https:\/\/thegraftonfirm.com\/wp-content\/uploads\/2022\/07\/Credit-Card-Debt-attorney-2-1200x674.webp 1200w\" sizes=\"(max-width: 389px) 100vw, 389px\" \/>Before one can begin to eliminate their credit card debt, it is best to take the process step by step. One can start by familiarizing themselves with the debts accumulated by credit card purchases and the limitations on the liberty of credit card use. Of course, if trapped in this given situation, see to it to enlist the help of a Towson, MD attorney who can help with the steps on how to eliminate credit card debt.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_Do_I_Negotiate_Credit_Card_Debt\"><\/span><b>How Do I Negotiate Credit Card Debt?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">It is possible to negotiate regarding credit card debt, usually for interest rates, payments, and settlements of the amount you owe. There are plenty of negotiation options but they vary depending on your situation. Among the popular options include:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Moving Payment Dates<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Interest Rate Reduction<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Temporary Payment Reduction\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Entering Forbearance Agreements<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Long-term repayment plans with reduced to no interest<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Lump-sum for debt settlement.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Negotiations don\u2019t always guarantee that things will go your way. If you aren\u2019t having a hard time with payments, there is a chance you can get a better interest rate. Talk to a bankruptcy attorney regarding negotiating on credit card debts before making any moves yourself.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Do_Creditors_Forgive_Credit_Card_Debt\"><\/span><b>Do Creditors Forgive Credit Card Debt?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Credit companies are unlikely to forgive credit card debt however they will accept smaller settlement amounts of the balance due. The company can write off debts but it doesn\u2019t eliminate the debt in totality. The debt is sold to a collector. If you wish to rid of credit card debt, it is recommended that you file for bankruptcy. Take note that bankruptcy is not the same as debt forgiveness.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That said, the only times a credit company forgives debt is when the credit card company considers you as uncollectible and writes off the debt. What falls under uncollectible? The moment you stop paying off your debts and become a delinquent.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Another reason that companies provide forgiveness for credit card debt is when you offer a settlement. If you are a delinquent and offer lesser amounts to settle the debt, the company might accept it. Suing is costly which means settling for an amount is the safest route to take. If you are struggling with credit card terms and conditions, get legal help from a reputable Towson, MD lawyer.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_To_Eliminate_Credit_Card_Debt\"><\/span><span style=\"font-weight: 400;\">How To Eliminate Credit Card Debt<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Now that you\u2019ve grown acquainted with credit card debt, it is time to understand the steps to take to eliminate credit card debt. Credit card debt on your record isn\u2019t a pretty sight to see and can cost you several opportunities. Understand the tips on how to eliminate credit card debt for a fresh start in life.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_It_Smart_to_Settle_Credit_Card_Debts\"><\/span><b>Is It Smart to Settle Credit Card Debts?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Debt settlements are offered by for-profit companies that negotiate with your creditors to allow you to settle in order to resolve the debt. Settlement is another term for a lump sum that is less than the amount originally owed. To make lump sum payments, programs ask you to set aside a certain amount every month in savings and then transfer it into an escrow-like account to accumulate enough to pay them off.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_Are_Other_Ways_to_Eliminate_Credit_Card_Debt\"><\/span><b>What Are Other Ways to Eliminate Credit Card Debt?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">There are other debt-relief options that you can choose from if you wish to eliminate your credit card debt. Negotiating and working with debt companies is just the most usual route. Still, exercise caution before attempting to navigate the world of credit card debt alone. Enlist the help of a reputable Towson, MD lawyer.\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>Talk to a Company. <\/b><span style=\"font-weight: 400;\">Talking to your credit card company can help in debt relief. Keep good records of your debts and talk amicably when explaining your situation. Remember that not paying within 180 days will lead to the creditor writing off the debt, causing a huge plummet in your credit score.<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>Consult with a Credit Counselor. <\/b><span style=\"font-weight: 400;\">Credit counseling organizations can help you with managing money and debts, develop a budget, and guide you towards financial responsibility. If the prospect of credit card debt is too much, enlist the help of a seasoned Towson, MD bankruptcy attorney.\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-level=\"1\"><b>File for Bankruptcy. <\/b><span style=\"font-weight: 400;\">\u00a0Filing for bankruptcy has dire consequences that include lowering credit score, however, it is one of the most recommended ways to eliminate credit card debt. Filing for chapter 13 bankruptcy enables individuals with a steady income to keep their property provided that they have a repayment plan while Chapter 7 involves selling nonexempt property to make money they can use to pay debts. The moment you\u2019ve paid off the debts, then the debt is discharged. Remember to talk to a lawyer regarding bankruptcy if this is the route you wish to take.\u00a0<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Call_Our_Towson_MD_Bankruptcy_Attorney_Right_Now\"><\/span><span style=\"font-weight: 400;\">Call Our Towson, MD Bankruptcy Attorney Right Now!<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Learning the process of how to eliminate credit card debt is a big step towards getting debt relief in life and moving forward from a financial crisis. However, the processes involved in debt relief may not all be easy to understand, which is why entrusting your case with a seasoned Towson, MD bankruptcy lawyer from the Grafton Firm is the best move possible. An attorney can inform you of the steps you can take in order to break free from the bounds of debt. Schedule an appointment right now.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Eliminating Credit Card Debt in Towson, MD Credit cards have posed a great convenience for most of us since it allows us to make purchases without shelling out actual cash. While this can make purchases quite a breeze, if you aren\u2019t careful, you can find yourself buried in credit card debt which could severely impact [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3403,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57,1],"tags":[],"_links":{"self":[{"href":"https:\/\/thegraftonfirm.com\/wp-json\/wp\/v2\/posts\/3400"}],"collection":[{"href":"https:\/\/thegraftonfirm.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thegraftonfirm.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thegraftonfirm.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thegraftonfirm.com\/wp-json\/wp\/v2\/comments?post=3400"}],"version-history":[{"count":4,"href":"https:\/\/thegraftonfirm.com\/wp-json\/wp\/v2\/posts\/3400\/revisions"}],"predecessor-version":[{"id":3408,"href":"https:\/\/thegraftonfirm.com\/wp-json\/wp\/v2\/posts\/3400\/revisions\/3408"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thegraftonfirm.com\/wp-json\/wp\/v2\/media\/3403"}],"wp:attachment":[{"href":"https:\/\/thegraftonfirm.com\/wp-json\/wp\/v2\/media?parent=3400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thegraftonfirm.com\/wp-json\/wp\/v2\/categories?post=3400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thegraftonfirm.com\/wp-json\/wp\/v2\/tags?post=3400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}