Attorney at Debt Advisors Law Offices

Practice Areas: Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, Stop Foreclosure

Credit card debt is often accompanied by other serious debt problems. The two best options to get help with credit card bills and get out of debt involve filing bankruptcy. Chapter 7 Bankruptcy is the only option to eliminate debt completely. This includes credit card debt, payday loans, personal loans, medical bills, etc. Chapter 13 bankruptcy is an interest-free debt reduction and repayment plan over three to five-years. Both legal options stop creditors and get you back on track with a fresh start.

The Temptation Of Credit Cards

There are many reasons why people turn to credit cards. During the pandemic, credit cards provided a safe way to make purchases online. One of the biggest credit card incentives today is the promise of “reward” such as cash back, gift cards or mileage points. The caveat is that credit card balances must be paid in full before each new billing cycle. Because credit card usage requires a fair amount of budgeting and planning, they may not be beneficial for everyone. Those who get behind often find themselves in financial trouble down the road.

Can I Just Pay Minimum Amount Due?

Paying the minimum amount due on your billing statement may avoid late fees and calls from the creditor. However, because you end up paying daily interest on the remaining balance, minimum payments won’t effectively address the total debt. According to CreditCards.com, the average credit card interest rate is 16.6%. Compounding interest builds each day for every credit card that has an over-due balance. The cycle continues and the interest builds, even when minimum payments are consistent. For many people, this is the beginning of a debt cycle that becomes nearly impossible to resolve on their own.

What Happens When Payments Are Missed?

Once behind on credit card payments, there is little forgiveness on behalf of creditors. If the due date and/or grace period have recently passed, call them for full payment as soon as possible. If multiple payments have been missed, or if you’re making minimum payments for months or years, there is a bigger financial problem to address. It may be tempting to do a high-interest consolidation or payday loan or to transfer credit card debt from one card to another. These choices ultimately lead to more debt. At Debt Advisors, we have seen these scenarios play out.

In such cases, seeking professional guidance is the best course of action. At Debt Advisors, particularly at our Milwaukee, WI office, We specialize in helping people navigate through their credit card debt. Our experienced team will work with you to create a personalized plan that suits your financial situation and helps you get back on track. We understand the stress and frustration that comes with being in debt, and we are here to support you every step of the way. Don’t let debt control your life – take the first step towards financial freedom by reaching out to us today.

Contact Debt Advisors today for a free consultation, and help charting out a clear path forward.

Learn about bankruptcy protections, types of bankruptcy, how to get started, what to expect, and who to trust. Filing bankruptcy is the ONLY way to completely eliminate debt. If bankruptcy is right for you, it offers powerful protections that cannot be achieved through alternative solutions such as hardship relief, loans, or debt settlement.

  • Exceptional service. The entire team was friendly and knowledgeable. The attorney took his time to walk me through step by step. I will recommend this law office to anyone!

    J Burks

  • I went through Debt Advisors as a referral by a friend. I am very happy I did so. The staff that I worked with were very helpful and showed a high level of professionalism. They were always able to answer any questions that I had. I was very happy with the attorney that I worked with, Michael Georg. Very professional.

    Terri Grote

  • Attorney Chad Schomburg and Debt Advisors helped me with my debt about three years ago. Chad explained the process to me and answered any questions I had, and the assistants compiled my documentation very efficiently while keeping my case moving forward. They were always available when I needed them, and even years later, I’m able to reach out to them, and they are willing to help. They have turned my life around 100%, and I could not have done it without them! Absolutely recommended!

    Tim Harris

  • They were there for my family from day 1 until the end, 5 years later (Ch. 13). Whenever I had questions or concerns they were always very responsive and gave me excellent advice. Michael and Jeremy are both exceptional bankruptcy attorneys. I highly recommend Debt Advisors.

    Steve

  • After I had to go on disability, I used my credit cards a lot more thinking I could pay them off when I was able to go back to work. That didn’t happen and I found myself so much worse off than I could handle. I went to Debt Advisors feeling terrible about what I had to do. Chad and everyone there were very understanding and put my mind at ease while taking such great care of me. They were there every step of the way and supported me when I was “freaking out”!! Every time I needed to contact them; their response time was amazing!! God forbid I ever need to go through this again, but I know where to turn if I need help! Debt Advisors are more than just filing bankruptcy on my behalf. They really care about what you are going through!! Thank you, Chad, Jeremy, Mike, and everyone at Debt Advisors!! I cannot tell you enough how much I appreciate all of you!! J Hammond

    Steve

  • After I had to go on disability, I used my credit cards a lot more thinking I could pay them off when I was able to go back to work. That didn’t happen and I found myself so much worse off than I could handle. I went to Debt Advisors feeling terrible about what I had to do. Chad and everyone there were very understanding and put my mind at ease while taking such great care of me. They were there every step of the way and supported me when I was “freaking out”!! Every time I needed to contact them; their response time was amazing!! God forbid I ever need to go through this again, but I know where to turn if I need help! Debt Advisors are more than just filing bankruptcy on my behalf. They really care about what you are going through!! Thank you, Chad, Jeremy, Mike, and everyone at Debt Advisors!! I cannot tell you enough how much I appreciate all of you!! J Hammond

    J Hammond

  • Chad Schomburg and his Staff did a phenomenal job for me and in an expeditious manner. I’ve recommend countless clients to Chad Schomburg, Wow!!! Outstanding customer service from the Schomburg office:)

    Lisa Williamson