Local Bankruptcy Attorney in Fort Walton Beach is Warning of Credit Card Debt Lawsuits

Fort Walton Beach, Fla. - Local Fort Walton Beach bankruptcy attorneys Lewis and Jurnovoy warn clients that while credit card companies have been hesitant to file lawsuits on debts due to the coronavirus, many credit card companies have begun ramping up lawsuits on borrowers. More and more clients are starting to be affected by adverse circumstances and see credit card debt in 2021. Last year, many took on more credit card debt than ever, primarily due to the coronavirus pandemic (COVID-19).

As more and more credit card companies file lawsuits, judgments will be awarded against debtors to allow them to garnish wages, bank accounts, or seize assets. Also, credit card bills from the holiday season have been mailed out, generating larger minimum payments that most clients cannot afford, making lawsuits more likely. A lot of debt on credit cards or many credit cards could be a warning sign of significant financial issues, even when clients are making the minimum payment. Failing to pay off credit card debt is extremely problematic. Simply making minimum payments will take forever to pay off because these cards have extremely high interests. Those who cannot pay off their credit card balance have a real problem, especially if they use it for necessities.

“It is important for people to be able to identify warning signs that they may have financial problems, such as credit card debt or credits calling for collection,” stated Martin Lewis, bankruptcy attorney.

Credit card financial problems are often caused by life's issues and do not go away but pile up instead.

“Recognizing warning signs is the best way to know you need help and to visit a bankruptcy attorney to determine your options for getting out of your finical hole. If you are struggling, the best time to call is now,” stated Steven Jurnovoy bankruptcy attorney.

Lewis and Jurnovoy are committed to helping those in finical hardship find the best solution. Lewis and Jurnovoy is here for clients looking for assistance with debt consolidation, chapter 7 bankruptcy, chapter 13 bankruptcy, mortgage modification, and more. Lewis and Jurnovoy also offers clients telephone appointments for those concerned about COVID-19. For more information, feel free to reach out to them via phone at (850) 409-3350 or visit them online anytime at https://www.lewisandJurnovoy.com.