ATTORNEYS & DEBT COUNSELORS
The Law Office of Peter D. Carratt
(813) 876-3328
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3019 West Azeele St.  Tampa, FL  33609
Tel.  (813) 876-3328
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Debt Negotiation Attorneys in Tampa help you lower your credit card bills.

If you’re having a hard time financially and need some help with the credit card bills, there are options other than
bankruptcy.

It is possible to negotiate a partial settlement, a workout agreement, or even just a reduction in the bills for a few
months, but getting the deal you need won't necessarily be easy and you need to make sure it’s the right choice for
you.   Not only do you have to figure out the amount that you can afford to pay but you also have to look at other
expenses, such as the impact to your credit score and next year’s tax bill.
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Next you will need to determine which solution works for you.  There are four main ways in which your debt can be
negotiated and they are:

  • Workout Arrangement - Under a workout, the bank eliminates or lowers your interest rate and often stops
    assessing punitive fees ( late fees or over-limit charges). The terms of the program may be temporary or
    permanent (until you've paid the entire balance).
  • Lump-sum Settlement –  A  lump-sum settlement is a settlement for less than the full amount owed.  
    Sometimes, you can break the sum into three payments.
  • Debt Management Program - If you need help with all of your credit cards, you can opt to go through a debt
    management program.  A counselor will make arrangements with all your creditors on your behalf.   You
    should know that all of your credit cards will be included in the program and closed.  This means you will no
    longer be able to use them.
  • Forbearance Program – This program offers a brief break from full payments, not forgiveness of any debt.   
    Under this program you will be given time to get caught up but then you must begin making full payments
    again until the entire balance is paid.

The lawyers with Attorneys and Debt Counselors can help you determine which type of debt negotiation is best for
you.  Call (813) 876-3328 to schedule a free consultation.
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Should I pay more than the minimum payment due on my credit cards?

The minimum payment on credit card debt is calculated as a percentage of your total current balance, or as all interest plus 1 percent
of the principal. Card issuers also set a floor to their minimum payments -- a fixed dollar amount that the minimum payment won't fall
below.

The minimum payment drops as your balance is paid, but thanks to compounding interest, you will end up paying for a long, long time
if you pay only the minimum.
Bankruptcy Attorney Tampa, St. Pete, Clearwater