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
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
Do you need a real estate lawyer while buying home or other real estate?
Despite your financial worry that a lawyer's fee would cost too much for a simple decision such as buying a house, it would really be very ideal and would be ...
READ MORE
While choosing tenants, avoid Fair Housing Complaints and Lawsuits
There are Federal and State laws that promote antidiscrimination where you as a landlord have certain limitations with the things you should say & do when selecting a tenant. If ...
READ MORE
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 do I know if I need a lawyer for a landlord tenant dispute?
Often times, landlord tenant disputes in which renters and residence owners will claim over issues such as maintenance of residence, increasing of the lease, disturbance, trespassing, rental and comfort issues. ...
READ MORE
Common Commercial Lease Terms
The commercial lease clauses are the written and binding agreement on the real estate you will rent for your business. It will help you avoid trap and negotiate for bargains ...
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
How landlords can check a tenant’s credit report?
There are private credits reporting agencies that collect credit files and other consumer information and sell them. Landlords can get the credit report of their tenants through these agencies. Landlords ...
READ MORE
Different investment property purchasing options
Investing in real estate property has become a trending way to earn a profit for the last 50 years. It is important to learn the different property purchasing options and ...
READ MORE
Declaring bankruptcy
Declaring bankruptcy is one of the many options a debtor can perform when he can no longer meet the terms of his financial obligations to his creditors. In the United ...
READ MORE
Fighting for red light camera traffic ticket
Do you need a real estate lawyer while
While choosing tenants, avoid Fair Housing Complaints and
Discuss major real estate laws in the U.S.
How do I know if I need a
Common Commercial Lease Terms
How to Deal With Zoning Problems?
How landlords can check a tenant’s credit report?
Different investment property purchasing options
Declaring Bankruptcy