Law Office of James L. Keenan

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James Keenan Law

Contact me for a free consultation!

PH 916.448.6923

TXT 916.715.6145

EMAIL James now!

Contact me for a free consultation!

PH (916) 448-6923

TXT (916) 715-6145

EMAIL James now!

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Sacramento Bankruptcy & Debt Relief Attorney

Get news, tips and information about bankruptcy filing and debt relief/elimination in Sacramento

Sacramento Bankruptcy: Credit Card Debt

Sacramento Bankruptcy: Credit Card Debt

Credit card debt is one of the most common forms of debt for bankruptcy filings in the Sacramento region.

There are a number of reasons credit card debt can cause bankruptcy. The ease of ability to obtain credit card debt is first factor to consider. Often consumers are bombarded with credit card applications, cash advances and debt consolidation offers. Rarely are these offers solicited.

Once the credit card companies obtain your business, they continue to encourage further credit use and, in so doing, foster further debt. If the debt with one credit card debt becomes beyond the ability to repay, at least realistically, other credit card companies are alway there to “rescue” you financially with more debt. Low introductory interest rates, promotions and teasers to draw you in are part and parcel of credit card marketing strategies. This strategy is particularly so amongst younger americans as this study suggests. When the low interest rates and payments expire, consumers are often left with only more debt. Soon robbing Peter to pay Paul can become a lifestyle.

Credit card companies have an obvious interest in extending credit: profit. Loaning money is one of the most profitable businesses in America. Only relatively recently have credit card companies been required to show how long it would take to repay your debt if you made only the minimum payment each month. Those figures will show the obvious profit built into their payments.

As credit card companies pad their profits, consumer debt grows. Debt can begin to beget more debt. It’s a tough cycle to break once you are in it.

Bankruptcy, though, is a way to break that cycle and remove yourself from debt. If your debt is beyond your ability to repay and your debt is only increasing, that may be a sign bankruptcy may be a wise way to go for you financially.

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Law Offices of James L. Keenan

2600 H St. Sacramento, CA 95816

Phone: 916-448-6923

Fax: 916-442-6524


Office Hours: Mon – Fri 8 a.m. – 5:30 p.m.

Evening Appointments Available

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Disclaimer: The legal information presented at this site should not be construed to be formal legal advice, nor the formation of a lawyer or attorney client relationship. Any results set forth herein are based upon the facts of that particular case and do not represent a promise or guarantee. Please contact James Keenan personally for a consultation on your particular matter. This web site is not intended to solicit clients for matters outside of the state of California.