As more and more consumers are forced to pay for the necessities (even including rent and medical procedures) with credit cards, debt collectors will be busier than ever. Emerging as one of the escalating repercussions from the coronavirus pandemic, credit card use is up—while incomes are down. For some this may be drastic too, considering that tens of millions lost their jobs due to the pandemic, with unemployment skyrocketing to historical proportions.
Consumer and household debt were already reaching historic highs prior to the pandemic, with US citizens continuing to take out loans and spend, and lenders showing no signs of backing off in approving loans. The strain was beginning to show, however, with debt collectors already beginning to clog the courts, suing over credit card debt, private student loan debt, medical debt, and much more.
Mortgages and student loans continued to be at the top of the list for household debt in the US, and while concern was growing—no one could have predicted the financial disaster that would strike overall. If you have found yourself back in the unfortunate groove of avoiding creditors who want to know when and what you will be able to pay, and incessant calls from nasty debt collections, consult with a skilled debt protection attorney from Fitzgerald & Campbell, APLC who will be able to help you iron out a new plan for your finances.
It may give you perspective to realize that while debt problems can be overwhelming, you do not have to go at it alone. With expert legal advice on your side, you can handle serious issues like collection lawsuits. Such legal action must be dealt with as quickly as possible. While most debtors do not reply or even show up in court when being sued by creditors, if you strive to act quickly and work on the problem with your attorney, not only will you be the exception in taking a proactive stance, but you may also be extremely surprised at how quickly a suitable resolution can be reached.
Courts may have been congested previously, but undoubtedly in the months to come, the scenario will only worsen as bills come due for so many with little to no income to satisfy creditors. Dealing with any collections lawsuits may prevent a default judgment from being granted against you and ensuing even worse financial repercussions.
Speak with an attorney from Fitzgerald & Campbell, APLC as soon as possible to examine your options. Our attorneys have decades of experience in serving clients as they navigate through challenging financial situations, to include student loan issues, bankruptcy, and other debt management processes. We are here to help! Click here to schedule a free 30-minute consultation, call us at (844) 431-3851, or email us at email@example.com.