Because of the financial strain Covid 19 has put on so many people, the Law Firm of William H. Lively, Jr. is lowering the up front costs for filing Chapter 13 bankruptcy cases for new clients. If you need to file a Chapter 13 bankruptcy and cannot come up with a large down payment to hire an attorney, contact our office–we can help get you protected for less.

Many Americans do not realize they are in debt

In Texas and across the United States, 20% of Americans do not know whether they owe money on their credit cards, and 30% have no knowledge about their credit line interest rates. A current U.S. News & World Report survey also shows that 24% of Americans have debts equaling more than $10,000. Furthermore, 25% of the survey participants indicate they have revolving balances as high as $2,000 on their credit card accounts. In addition, 16% of the participants do not know how much money they owe on their credit cards.

The majority of participants say they confine their credit card debt to one card. On the other hand, 60% of Americans taking the survey say they pay their credit card statements by the due dates and do not have any credit card debt. Yet many Americans struggle with mounting financial problems. Many workers live from paycheck to paycheck and struggle to pay their bills.

Many credit card holders in the United States do not understand basic financial strategies such as zero credit card balance transfers. One problem concerning zero credit card balance transfers is that many of the offers do not apply to consumers with poor credit histories or scores. Unfortunately, these are the credit card holders who might benefit the most by paying zero interest for lengthy periods. Additionally, many of the zero credit card balance transfer offers come with fees.

People experiencing heavy credit card debt may not have the means to pay transfer fees. Filing for Chapter 13 bankruptcy may provide the answer for consumers who are no longer able to make ends meet. Contacting a lawyer may help some individuals find debt relief. When in doubt about finances, a phone call to a bankruptcy attorney might offer beneficial results.