At The Zolman Law, Arizona’s premier bankruptcy law firm, we really do care about you and your family’s financial health. In this series of blogs, we will cover some tips for avoiding or reversing the crushing credit card debt that can lead many people to declaring chapter 7 or chapter 11 bankruptcy.
Excuses to raise your rates
One of the latest tactics credit card companies are employing to get more money out of consumers is keeping an eye on your other credit accounts. Credit card companies have written into the small print of your contract that they can charge penalties and increase interest on your account with them if you miss a payment, go over your credit limit or open an additional account with another provider. Some providers will actually hike up your rate if you make only the minimum payment every month.
How to protect yourself
- Be very careful to pay ALL of your bills on time, not max out any credit cards, or apply for new credit unless it’s absolutely necessary.
- Pay more than the minimum due. Paying even a few dollars more than expected can keep your rate from jumping and help you pay the debt off faster so you pay less interest.
- Keep an eye on your credit report. Get your free copy once a year and dispute any information that is incorrect.
At The Zolman Law, we believe that your life shouldn’t be defined by debt. We have helped hundreds of people just like you find the relief they deserve from harassing bill collectors, paycheck garnishment, foreclosures proceedings, and – most importantly – the constant worry about money and what to do about your debts.
We are a dedicated debt relief law firm. We help people from Phoenix, Mesa, Gilbert, Queen Creek, Chandler, Scottsdale, Apache Junction, Tempe and throughout Arizona file for bankruptcy or work through tough tax problems every day. We can help stop the debt cycle and give you relief from your overwhelming, burdensome, and crushing debt. Please don’t wait another moment. Call us right away – our attorneys will help get you the fresh start you deserve.