Credit card card debt can dig you down into a whole that you cannot escape from. However, instead of declaring bankruptcy, there are alternatives ways to settle, manage or consolidate your credit card debt.
Recently, a client came into the office regarding a balance of $26,970.30 that he had outstanding on a credit card. Each month the minimum payment was escalating due to punishing interest rates on his balance. Not only was he unable to make the payments, he also had been using his deceased mother’s credit card. The credit card company was in the “driver’s seat” because not only was the client in mounting debt, but if he did not pay they could have reported his activities to law enforcement. It is one thing to not have the means to make payments, but it is another to be using a deceased individual’s credit card.