Bankruptcy
Some people think bankruptcy is out of the question. Surrendering, only to be done when all other alternatives have failed and no other choice is left. The truth is that bankruptcy can breathe new life into a dying business or give a family a second chance to thrive, but if you wait too long, it may be too late to save your business, or you may have already lost assets you could have saved.
Wage Garnishment
Are you being harassed by a debt collector? There are laws that limit what debt collectors can say or do. Under the Fair Debt Collection Practices Act (FDCPA), debt collectors cannot harass a person when collecting certain types of debt.
Debt Defense
Chapter 7 bankruptcy is often called a “liquidation” bankruptcy. It is available for business debt or consumer debt, but there are income-based restrictions for Chapter 7 relief if your debt is primarily consumer debt. However, as stated above, if you have no assets that are not exempt, there is nothing to liquidate.
Foreclosure Defense
Some people think bankruptcy is out of the question. Surrendering, only to be done when all other alternatives have failed and no other choice is left. The truth is that bankruptcy can breathe new life into a dying business or give a family a second chance to thrive, but if you wait too long, it may be too late to save your business, or you may have already lost assets you could have saved.
Credit Card Debt
Credit Card Debt can feel like quicksand, and debt collectors can make you feel less than human. Even when you are doing your best to stay on top of all the payments, sometimes there just is not enough there to pay everyone.
Debt Collection Harassment
If you have fallen behind on your bills and collection lawsuits have been filed against you, it is important to understand that once a creditor obtains a court judgment against you collection efforts will begin.
Bankruptcy
While many feel conflicted about discharging their debts, the truth is that more creditors recover more money when an insolvent debtor files bankruptcy than when they do not. That is because your non-exempt assets (property you cannot keep, as opposed to the property you can keep) get divided fairly among the creditors, instead of going to whoever gets judgment first. However, most people who file for bankruptcy relief have no non-exempt assets (meaning they keep everything). The exemptions in Florida are under Florida law, not bankruptcy law, which means even if you do not file bankruptcy, your creditors cannot take your exempt assets. In essence, bankruptcy stops your creditors from wasting money paying debt collectors to harass you and lawyers to get judgments against you, only to discover you were telling the truth, you really cannot afford to make a payment.
Credit Card Debt
If you are being sued on a debt, we can defend you in court. In order to get a judgment against you, your creditor must prove that you owe the debt. Many debts are sold over and over again, and by the time someone sues you, they have no evidence that you owe the debt, or that they are entitled to payment.
If your debts are out of control we can discuss alternatives, like reorganization or discharge in bankruptcy. We can help you find a path to resolving your debt so that you can start rebuilding your life. Stop treading water and call us today.
Wage Garnishment
Once powerful and commonly used collection tool is the garnishment of your accounts and/or wages. The creditor serves either your bank (or other account holder) or your employer with an order instructing it to pay money that is owed to you, directly to the creditor instead.
If a judgment creditor serves your employer with a wage garnishment, your employer will be required to pay a certain portion of your wages directly to the creditor (or in some cases to the court). A garnishment against your paycheck is often “continuing.” This means that the deductions will continue to be made against every paycheck you receive until the creditor’s judgment against you has been paid in full. If your employer refuses or fails to comply with the terms of the garnishment order, the court can hold the employer liable to pay the total amount that is due.
Under the federal law, the percentage of your income that can be garnished by a creditor is limited. Only your “disposable income” or the amount of your paycheck less any required deductions (such as taxes) is subject to being garnished.
Foreclosure Defense
Should you try a short sale? What about a deed-in-lieu of foreclosure? Could you make your payment if they gave you a mortgage modification reducing the principal balance to current market value? We can explain your options in a free consultation at our Melbourne office.
Mortgage foreclosure is a serious matter that will have lasting consequences on your credit and could result in a substantial deficiency judgment. Even if you did fail to pay your debt, you may have defenses available to you. Defending your foreclosure may give you time and leverage to negotiate with your lender. An experienced foreclosure defense attorney can protect your rights and help you decide on a path to get through foreclosure with as little damage as possible, potentially saving you thousands of dollars and avoiding bankruptcy.
Debt Collection Harassment
Harassment Examples:
- Repetitious phone calls that are intended to annoy, abuse, or harass you or any person answering the phone
- Obscene or profane language
- Threats of violence or harm
- Publishing lists of people who refuse to pay their debts (this does not include reporting information to a credit reporting company)
- Calling you without telling you who they are