Credit Card Debt in Evanston
Being in credit card debt is not a unique issue. Eight out of every ten Americans are inundated with credit card debt, with the numbers growing each day. The overall household debt increased 11% in the last decade alone. Credit card debt, in particular, is one of the lowest individual debts in America topped by mortgages, auto, and student loans. Americans owe $16,425 in credit card debt per household on average, totaling to $764 billion.
Credit card debt can come as a result of various circumstances. Many people open credit cards with the intention of building their credit score so that they will be in a better position to buy a home or car when the time comes. That credit card may have been used more often than expected over time, resulting in a constant balance, and ultimately out of control debt.
Debtors should know that debt relief options are available. An Evanston credit card debt settlement attorney can help resolve debt on the most favorable terms.
Debt Settlement Options
Once made aware of the outstanding debt, people usually try to reallocate their funds to pay it off. This option is only useful if the debtor has the immediate resources necessary to make on-time payments that are well above the minimum allowed. If that’s not the case, one can expect to continue making payments for a long while as interest piles on.
The majority of people in debt understand that they do not have enough to pay it off, so they seek debt settlement alternatives instead. Many stumble upon debt consolidation. The concept is best suited for individuals with multiple sources of consumer debt and consists of combining debts into one large monthly payment. This may make it easier to identify debt but can result in a longer repayment period with even higher interest rates.
How an Evanston Credit Card Debt Settlement Attorney Can Help
Don’t make the mistake of assuming that your debt issues will handle themselves. Your payment delinquency is grounds for creditors and debt collectors to take legal action. They have the power to freeze your bank accounts and garnish your wages until you pay the owed amount in full.
Heather Benveniste is an experienced Evanston credit card debt settlement attorney with Benveniste Law Offices. She takes what she learned from working for seven years as a debt collection attorney to represent the afflicted debtor of Illinois. She understands that credit card debt can be standing in the way of your ultimate goal of owning a home or car. Contact us today at 1-800-497-5358 for a free consultation. You don’t owe us a dime until we resolve your debt.