Debt is a common problem and can cause a lot of stress. If you get served with a debt collection lawsuit, do not panic, as help is available. Our expert debt relief lawyers can help you with debt settlements in a compassionate and timely manner. If you need legal advice on foreclosure or are looking to file for bankruptcy, we can help with that too. Indications of excessive credit card debt include:

  • Only making minimum monthly payments
  • Not making minimum monthly payments
  • Borrowing from your retirement savings account to pay credit card debt
  • Borrowing against assets to pay credit card debt
  • Transferring debt between credit cards
  • Postponing necessary monthly expenses to pay credit card debt
  • Low credit score

If you are struggling with a lot of debt you might be able to work with creditors and / or debt collectors to make your situation more manageable. This process is known as debt settlement, or debt negotiation. You can negotiate lower payments or potentially reduce the overall amount that you owe if you pay a lump sum up front.

How Collectors Collect Debts

  • Property repossession – your property serves as collateral as payment for your debt and your car lender can repossess your car without warning
  • Bank levies – if a creditor has a court order against you they have the ability to freeze your bank account or levy funds from your account. Levies are most commonly used by government agencies, however private creditors can sometimes execute a levy.
  • Property liens – a property liens is a notice attached to your property and is usually a public record. Liens on real estate are a common method for creditors to collect what they are owed. Liens on vehicles can be effective as well, but are less common.
  • Enforcement of child support obligations – both the federal and state governments are involved in enforcing child support orders, and there are several methods of child support collection.
  • Automatic income withholding (includes wage garnishment)
  • Property seizure
  • Jail time
  • Property liens
  • IRS can take your tax refund
  • Wage garnishment – if one of your creditors has a judgment against you / has sued you for nonpayment, they have the right to garnish your wages. Private creditors typically use wage garnishment as a method of debt collection. With wage garnishment, your employer holds back some of your income (the garnished income limit varies by state) and gives those wages directly to the creditor. The creditor will continue to garnish your wages until the debt is paid off in full or until you come to another agreement with the assistance of a lawyer.
  • Tax refund offset – tax refund interceptions are allowed for 3 situations, outlined below. Before the IRS can take your money, they are required to notify you.

-You are in default on student loan payments

-You are behind in income taxes

-You are behind in child support payments

Debt Settlement Negotiations

If you have trouble paying your car loan or car lease, it is best practice to try and work something out with the lender. If you have difficulty managing high medical bills or high credit card balances, you may be able to negotiate with debt settlement legal services. However, you need to be wary of debt elimination schemes and debt consolidation scams, which are easy to fall prey to in times of dire stress. Our experienced debt settlement lawyers can help you with both debt reductions and negotiations and start reducing your stress immediately.

Related Posts
Buying or Selling real estate property
If you are not an expert in buying or selling a real estate property, you need the help of a sales agent to walk you through the entire process. You ...
READ MORE
Driving license suspension: Know how your driving license can be suspended
Driving is not just a right, it is actually a privilege. A lot of people are not concerned about losing their license when they speed up and cross a stop ...
READ MORE
How lawyers can help real estate investors or buyers?
In many ways, a real estate lawyer can help real estate investors or buyers more than a real estate agent can. That's because they know all the complexities of real ...
READ MORE
Dealing with your insurance company
If your house gets damaged by fire or other disasters, you can look to your insurance company for reimbursements. But your success of getting relief from your insurance company may ...
READ MORE
Property tax law
Property tax is a tax on real estate levied by any level of jurisdiction from National government right down to municipal or county level. The amount charged is usually between ...
READ MORE
Why to hire dui lawyer
You must have heard of the friends or family members being caught under the DUI. Definitely, Driving under Influence is not a small case. In fact most of the states ...
READ MORE
Fighting for Red Light Camera Traffic Ticket
If you are facing a red light camera ticket case, the best thing you can use for your defense is to challenge the clarity of the image captured. You better ...
READ MORE
Why buy investment property under an LLC
An LLC or a limited liability company will benefit you in many ways if you decide to buy real estate properties. That's because it will provide plenty of protection in ...
READ MORE
Basics of Business Partnership
By definition, a partnership is a business with more than just one person or one owner running it. A partnership refers to businesses with owners who have not filed legalities ...
READ MORE
What happens in a traffic ticket jury trial?
Just like any trial in front of a judge, the jury will be selected, and then the judge or clerk will have the jurors sworn in. Most traffic ticket jury trial ...
READ MORE
Buying or Selling real estate property
Know how your driver license can be suspended
How lawyers can help real estate investors or
Dealing with your insurance company
Property tax law
Why to hire dui lawyer
Fighting for red light camera traffic ticket
Why buy investment property under an LLC
Basics of Business Partnership
What happens in a traffic ticket jury trial?