Bankruptcy Attorneys for Credit Card Debt in Springfield, MO

At Reynolds and Gold Law, we understand that credit card debt can become overwhelming. At the time, with the amount of interest you pay to the credit card companies, there’s no way out of your current situation. That’s certainly not true. Bankruptcy can be a way for you to start fresh by discharging your current credit card debt or establishing a manageable payment plan for you to pay back some of it.

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If you’re thinking about filing for bankruptcy, it’s important to have an experienced attorney by your side. At Reynolds and Gold Law, our lawyers have years of experience helping countless clients throughout Springfield and Southwest Missouri overcome their credit card debt through bankruptcy. Contact us today for a free consultation. During your consultation, one of our bankruptcy attorneys will discuss your situation to determine the best solution for you. 

What Type of Bankruptcy Should You File?

For those with lower income levels, chapter 7 bankruptcy allows you to discharge most, if not all, of your credit card debts upon filing. That’s because credit card debt is technically “unsecured debt,” which means the property. In some cases, credit card companies may file a debt collection lawsuit against you, which could lead to the repossession of some of your property. 

For those with higher income levels, chapter 13 might be a better option. In this case, you will be required to pay off a portion of your credit card debt over time as a part of a repayment plan. 

Does Bankruptcy Help Get Rid of Credit Card Debt?

The short answer is yes. For those filing Chapter 7 bankruptcy, you are eligible to discharge most if not all of the credit card debt you’ve acquired over time. For those filing Chapter 13 bankruptcy, you’re required to pay back as much of your credit card debt as you can afford. The remaining amount you owe can be discharged. 

Can You Keep a Credit Card After Filing for Bankruptcy?

When you file for bankruptcy, you can expect to lose all of your existing credit cards. That being said, after the filing is complete, you can begin to apply for new credit cards. In fact, a lot of people, as a way to build their credit back up after chapter 7 bankruptcy, begin to acquire new credit cards.