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Credit card debt can be resolved through bankruptcy

Many New Jersey consumers likely know that getting into debt is a whole lot easier than getting out of debt. Although there are ways to get out of debt, the level of indebtedness will determine how drastic the required steps will be. Those who are drowning in credit card debt may be seeking the quickest way to get back on track.

It is often said that the best way to gain control of credit card debt is to work with a budget. Some suggest that a person must destroy all credit cards but one and use that one only for emergencies. Making a list of every expense, including those small ones that seem insignificant, can bring about the shocking reality of how much money can be saved by considerate spending.

When more drastic actions are required, a second job might provide additional funds. Also, selling unused items may help, and in extreme cases, a family with more than one car may benefit from selling one of them. Additional funds can then be used to pay off credit cards one at a time.

All of these remedies to take care of credit card debt can take months before positive results become evident. In the meantime, debt collectors may be making a nuisance of themselves, and creditors may threaten repossession, wage garnishments and other actions. There is an option that will provide almost instant relief while also providing protection against creditor action. By consulting with an experienced New Jersey bankruptcy attorney, the consumer can gain knowledge of the options available under the U.S. Bankruptcy Code.

Source: nasdaq.com, "Drowning in Debt? How to Get Back on Track", Pamela Sams, June 16, 2016

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Goldman & Beslow, LLC is a Federal Debt Relief Agency by an Act of Congress. We have proudly assisted consumers seeking relief under the U.S. Bankruptcy Code for over 38 years.

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