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
Discuss major real estate laws in the U.S.
Real estate laws has a broad legal area coverage regulated by state law, federal law, and common law. This law includes land and any immovable structures attached to that land ...
READ MORE
How to Deal With Zoning Problems?
Right location is an important factor to running a successful business. A strategic location can give you the right customers and publicity. You may find the right location perfect for ...
READ MORE
Drunk Driving
Drunk Driving is the act where in the driver drives the vehicle under the influence of alcohol or drugs. This is to such an extent that the person does not ...
READ MORE
Which terms should be there in your Lease and Rental Agreement
There are terms you need to look out for before you sign a lease or rental agreement. That’s because if you’re not careful enough, chances are, the landlord or landlady ...
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
How to hire a real estate attorney?
It's really a great idea to hire a real estate attorney early on because it will help you save more time and money as well as defend you from various ...
READ MORE
Basics of buying a house
Real estate transactions can be intimidating at times. You might encounter pitfalls that will make you lose money as you buy your first house. This is why hiring an attorney ...
READ MORE
Adoption Legal Services
Adopting a child can be a wonderful experience and fortunately, most adoptions work out well for everyone involved. Adoption is a legal process that ends the rights of the biological ...
READ MORE
Criminal Charges
Criminal law covers crimes, prosecution and defense. According to the rules and statutes written by Congress and state legislators, dealing with any criminal activity that causes harm to the general ...
READ MORE
Risks and Benefits of buying a foreclosed property
Buying foreclosure property may give you great discounts; however, there are various underlying risks to it too. Benefits Pre-foreclosure home owners want to sell their houses in a hurry to avoid foreclosure, ...
READ MORE
Discuss major real estate laws in the U.S.
How to Deal With Zoning Problems?
Drunk Driving
Which terms should be there in your lease
Fighting for red light camera traffic ticket
How to hire a real estate attorney?
Basics of buying a house
Adoption Legal Services
Criminal Charges
Risks and Benefits of buying a foreclosed property