Unsecured debts are those debts which are not guaranteed by any kind of collateral, such as a car or your home. In other words, if someone loaned you money in this way, they can’t repossess anything. Many unsecured debts can be discharged in a Chapter 7 or Chapter 13 bankruptcy, including credit card debt, judgments, some taxes, medical bills, utility bills, and personal loans.
However, some unsecured debt is non-dischargeable in Chapter 7 or Chapter 13 bankruptcy — meaning it is not and cannot be wiped out. Non-dischargeable debts include those for child and spousal support, student loans (except in very limited circumstances), certain taxes, recent debts for luxuries, debts incurred on the basis of fraud (such as lying on a credit application or writing a bad check), and unlisted creditors.
We can stop creditors from calling you. Creditors who hold the unsecured debt, like most credit card debt or other money owed for services performed, only have two options in recouping their money: they can either convince you to pay voluntarily or seek a court order. Not paying these debts can severely damage your credit in most instances.
Since creditors know that unsecured debt can be difficult and costly to recoup, many of them resort to threats and intimidation to convince you to pay. While creditors do have a right to call you, if they resort to harassment they may be breaking the law. This rarely stops them — and the calls and letters become disruptive, upsetting, and overwhelming.
One of the advantages of having an attorney on your side when you are overwhelmed by unsecured debt is that all calls and correspondence with your creditors can be routed through our office. Let James Jackman handle your creditors while you take steps to get your finances back on track. Contact our office today to discuss your situation with an experienced Florida debt relief lawyer.
Debt Relief Options for Florida Clients
You have options in handling overwhelming unsecured credit card debt. Even if you don’t qualify for Chapter 7 bankruptcy, a Chapter 13 bankruptcy or credit card debt and other debt negotiation may be the best option for you. Depending upon your circumstances, your interests may best be served by debt negotiation resulting in a deeply discounted cash settlement or a payment plan. This will allow you to end the harassment and mounting charges and fees while paying off your outstanding debt.
At a certain point, it may be impossible to repay unsecured debt in a negotiated arrangement with your creditors. If that happens, we can efficiently guide you through the process of seeking debt discharge under Chapter 7 or debt reduction for wage earners under Chapter 13 bankruptcy.
Remember that debt negotiation companies are typically not interested in offering you any solution other than a debt negotiation plan under which you make monthly payments, the first several of which (sometimes up to 10 months or more) go towards their fees only. During this time, your creditors are not managed, receive no money, and may sue you. You need to know all of your options and understand what is best for you before deciding what actions to take.
Call us today to begin your trip along the road to financial recovery.
