According to information provided by financial clearinghouse website Nerdwallet.com, American households have an average of nearly $16,000 in credit card debt. For many, they owe much more than they can possibly pay. Those same people may assume that the only way they will be able to break free from their unmanageable debt is to file bankruptcy. Thankfully, there is another way; it may be possible to negotiate a reasonable payment or to successfully defend against a creditor who has brought a debt collection lawsuit.
Looking outside bankruptcy
While it is true that, for some, bankruptcy is a good option, there are many people who don’t want to pursue what is often a difficult, long-lasting process that will have financial ramifications for years to come. A much better option for many people is to pursue what is known in legal parlance as “debt defense.” If you are in the Houston area of Texas, Texas Debt Defense, can answer your questions about debt defense, and how to escape unwieldy credit card or medical debt without filing for bankruptcy or consenting to expensive debt consolidation that locks you into an unaffordable monthly payment for a period of several years.
Essentially, debt defense is a process by which consumers like you are able to clear debt, escape creditor harassment, shut down collection lawsuits and start to rebuild your life without resorting to bankruptcy. There are many limitations present in the bankruptcy process – like it remaining on your credit for at least 10 years, filing restrictions that may prohibit multiple filings even if they are necessary and income requirements – that simply don’t exist for the debt defense option. In addition, a skilled debt defense attorney can represent you in a collection lawsuit if a debt collector has filed one and can also proactively take steps to free you from harassing phone calls, threatening letters and other unscrupulous debt collection practices.
Especially helpful for credit card debt
Debt defense can be particularly helpful for those dealing with credit card collection lawsuits, because these debts are often sold to collectors for pennies on the dollar without adequate documentation or proof of the debt. Such practices give debtors valid legal defenses that can not only have the case dismissed in court, but could also result in punitive damages, attorney fees and other related costs. Even if the case isn’t dismissed, though, credit card companies facing debtors represented by skilled attorneys like Finis Cowan will often be willing to negotiate much smaller payment amounts that can easily be made.
You likely still have questions about how debt defense can help your unique financial situation; if so, contact Texas Debt Defense, for more information.