Avoid Overdrafts At All Costs

When you were young, you may have had a vision for your own future that was far different than the way things have gone up to this point. For example, nobody plans or anticipates that their adult life will be characterized by financial struggles. Most individuals and families, however, are likely to experience some periods of economic uncertainty, leaving them vulnerable to fluctuations in wages, unexpected expenses, and other financial issues that are largely beyond their own control. When there is more month than money, one might find himself in need of a particular purchase but with insufficient funds in his or her account to make it.

Although many banks and financial institutions will authorize transactions that carry your account into a negative balance, this can prove to be quite costly. If you are consistently incurring overdraft fees or are panicked about whether your payment will clear because your debts are too great for your income, bankruptcy might be the solution to your struggles. Contact the Arizona bankruptcy lawyers of the Harmon Law Office, LLC, at 480-829-0494 to speak with a skilled and experienced attorney about your situation.

How Overdrafts Hurt

The United States Congress has recently turned its attention to abusive practices of institutions that issue credit cards, and many of their concerns are also applicable to debit cards. Without the direct correspondence of physical currency to a particular purchase, a cardholder is less likely to keep an accurate account of his or her spending, increasing the likelihood of an overdraft. This can incur significant fees and penalties at the time of the transaction and may result in the assessment of daily or weekly penalties for as long as your account remains with a negative balance. What had already been a challenging situation can swiftly take on proportions that make it appear hopeless.

Contact Us

Bankruptcy is not a cure-all, but it could be the right solution for you. Let us help you to get your feet back under you. Contact the Arizona bankruptcy lawyers of the Harmon Law Office, LLC, at 480-829-0494 for more information.