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Stockton CA Bankruptcy Law Firm Reduce Credit Card Debt Guide Published

A law firm with offices in Stockton and Fresno, California, has published an online guide explaining how filing bankruptcy may help people get rid of credit card debt.

Srai Law Office, a law firm providing advocacy in bankruptcy, family law, and criminal law matters with offices in Stockton and Fresno, California, has published an online guide explaining how filing bankruptcy may help people get rid of credit card debt.

More details can be found at https://srailawoffice.com/does-filing-bankruptcy-get-rid-of-credit-card-debt

The publication of Srai Law Office’s guide will be of interest to individuals facing bankruptcy after struggling with credit card and other debts.

Many of Srai Law Office’s clients question the status of credit card debt before filing for bankruptcy. The guide explains that credit card debt, along with uninsured medical costs, is a leading cause of bankruptcy in the United States.

The average American has approximately $7,000 of credit card debt. This debt can cause significant financial strain, especially in a rough economy, and is the primary reason why many individuals file for Chapter 7 bankruptcy.

The Srai Law Office bankruptcy online guide explains how in most cases, bankruptcy courts will wipe out most or all of the person filing for bankruptcy’s obligation to pay the balance of their unsecured credit card debt. However, there are a few exceptions to this rule. These exceptions include when creditors believe a credit card was obtained fraudulently.

While most credit cards are based on unsecured debt, some credit card purchases for large items such as furniture, jewelry, or domestic appliances may be secured through collateral. In such cases, bankruptcy courts will not discharge debt that is secured by collateral. A bankruptcy attorney will check their clients’ contracts to determine whether their credit line is secured by collateral or not.

A spokesperson for Srai Law Office said, “Bankruptcy is a last resort option for most people facing financial problems. However, when they do make the hard decision to file for bankruptcy, it is important to consult with an experienced bankruptcy attorney to determine what type of bankruptcy is right for them and how filing will help them get out of their difficult financial predicament.”

More information about Srai Law Office’s online guide explaining if filing bankruptcy gets rid of credit card debt is available at https://srailawoffice.com/does-filing-bankruptcy-get-rid-of-credit-card-debt

Contact Info:
Name: Gurjit Srai
Email: Send Email
Organization: Srai Law Office, P.C
Address: 445 West Weber Avenue, Suite 139, Stockton, California 95203, United States
Phone: +1-209-689-2207
Website: https://srailawoffice.com/

Source: NewsNetwork

Release ID: 89025419

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