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A Debt Collector Threatened Me with Fraud and Jail. Can They Do That?

Posted on Tuesday, October 13th, 2015 at 3:01 pm    

jailcellLawrence & Associates has told you before about creditor harassment, and with a list of things the creditor can and cannot do. We’ve also talked repeatedly about illegal scams where someone calls and pretends to be a debt collector in order to swindle you out of money. This post is slightly different. Here, we talk about the debt collector’s threat of fraud and related threat of jail time. Fraud allegations are different because a debtor really can go to jail for actual fraud. However, because debt collectors generally don’t understand the real meaning of the word fraud, the threat of jail time for fraud charges is almost never a real concern for every day debtors like you. Here’s why:

What Is Fraud?

So what separates an average joe who can’t pay his credit cards on time from a criminal who is defrauding business of its hard earned money? In a word, intent. One must actually intend to commit fraud, because a necessary element of fraud is the knowledge that a representation made is false. For judges and prosecutors, there is no question that someone has not committed fraud simply because they find themselves unable to pay their bills. The real question is whether the person with the unpaid bill, at the time he or she took out credit, knew that the debt would never be paid back. As a practical matter, that is difficult to prove in the context of taking out a loan. It is one thing to show that a bad check was written when the check writer knew the account balance was too low. It is another thing entirely to say that someone signing for a loan never intended to pay it back. None of us have a crystal ball.

As a practical matter, most creditors don’t even try to prove fraud. The bar is simply too high, and the likelihood of winning too small. Further, the fact that some debts won’t be paid back is factored into the creditor’s business model. That is why credit card companies and banks are billion dollar businesses despite the bankruptcies filed on their loans every day. Rather than prove fraud, these companies simply sue for money. The difference is profound. Fraud is criminal and involves jail time. A civil suit for money is a matter of a garnishment or lien against property.

There Is a Way Out of Crippling Debt

Debt Consolidation Companies aren’t always a solution, but bankruptcy is always the nuclear option to debt problems. Although you don’t have to worry about debtor’s prison or fraud, you do need to worry about your credit score, your debt-to-equity ratio, and many other variables that determine the kind of life you live. Although it is counterintuitive, bankruptcy can drastically improve these factors and your ability to live the life you deserve.

Lawrence & Associates has helped many clients who have been hassled by debt collectors, and we’d be happy to help you. We are Working Hard for the Working Class, and we want to work for you! Give us a call for your free consultation, today!


The Dangers of Co-Signing for Debt

Posted on Monday, August 24th, 2015 at 4:35 pm    

Everyone knows it is dangerous to co-sign for debt. Often, relatives with good credit ratings are asked to co-sign for relatives with bad credit ratings or too little credit. If one person defaults on the debt, then the other is responsible for the loan. It does not matter that the original person is available to be sued or garnished; the lender has the option of going after either co-signor, at any time, for any reason, once a payment is missed. What many of our Northern Kentucky clients do not understand is the impact this will have on their credit and their ability to discharge the debt in a bankruptcy.

Effect of Co-Signing on the Innocent Co-Signor

signhereLet’s assume Cincinnati wants a car, and Kentucky (who has good credit) co-signs on the loan. Cincinnati has the car in his or her name. Cincinnati then defaults on the payments. The car lender is now calling Kentucky and wanting to sue. What are Kentucky’s options?

Obviously Kentucky, as the co-signor, has the options to start making the payments, but most people don’t have the cash to pay for a new car they don’t even own. If a lawsuit is filed, the innocent co-signor’s wages can be garnished, bank account can be garnished, or a judgment lien could be put against his or her home. The co-signor can file a bankruptcy to discharge the debt. Even though a lien against a car is typically secured, since Kentucky doesn’t own the vehicle this debt is unsecured the lien is unsecured as far as Kentucky is concerned. That means the debt can be discharged in a Chapter 7 bankruptcy. However, the bankruptcy will hurt a co-signor’s credit rating just as if the debt belonged to the co-signor directly. Further, all the co-signor’s debts will have to be included in the bankruptcy, not just the co-signed debt. In short, none of the co-signor’s options are particularly good.

Student Loans

Where student loans are involved, the co-signor’s options are even worse. In Northern Kentucky, parents are often asked to co-sign on student loans. This is very dangerous! A student loan cannot be discharged in bankruptcy, regardless of whether it is federal or private. Private student loan lenders are aware of this, and creditor harassment in pursuing collection on a private student loan is common. Like with other loans, the student loan lender can pursue garnishment against wages or a bank account, can put a judgment lien against assets such as a house or a car, and – in the case of a federal lender – can even seize tax returns.

For this reason, co-signors on a student loan must file a Chapter 13 bankruptcy to avoid garnishment or attachment of a judgment lien. This means the co-signor must be in a bankruptcy for three to five years and make payments on the student loan to get it paid off. This is difficult for anyone, and can be impossible for some depending on the size of the student loan on the amount of the co-signor’s income.

Think Before You Co-Sign on a Debt!

Not every co-signor gets stuck footing the bill. If you find yourself in trouble because you co-signed on a debt, let us help. Lawrence & Associates takes pride in represeting Northern Kentucky and Greater Cincinnati residents just like you. We are Working Hard for the Working Class, and we can help. Call today!


If I’m Struggling With Bills, Which Should I Pay First?

Posted on Wednesday, July 29th, 2015 at 10:42 am    

Many of our clients are facing the same problem: there isn’t enough money to go around, and they are robbing Peter to pay Paul. Some clients come in for bankruptcies after some financial calamity and are juggling credit cards just to put food on the table. Others come in for an injury, following a car wreck or work injury, and suddenly find that they are unable to work and don’t have enough socked away for a rainy day. And our disability clients face a year-long wait for a hearing with an Administrative Law Judge, during which they typically have no income and cannot work. Any way you cut it, if you need the services of a lawyer you are probably facing some hard times.

If you have more bills than money, you need to know how to prioritize the money you do have to maximize your chances of returning things to normal in as soon as possible.

Pay Secured Debts First – the House and the Car

holding-money-1315930-639x426Lawrence & Associates tells clients to make sure their car payment is taken care of first (assuming they want to keep the car). Missing even one car payment can cause the repo man to start cruising down your street. A repossession is one of the few ways a creditor can take your money or assets without getting a judge’s approval first, and that means it can happen fast. Clients filing bankruptcy can be forced into a Chapter 13 if they are behind on a car payment, and cars that have been repossessed by surprise are difficult (but not impossible) to get back. While repossession applies to other types of assets as well – for example, if you take out a loan on an engagement ring and fall behind on payments, the ring can be repossessed – but nothing else you own is as exposed as a car sitting on the curb overnight. Keep car payments up to date if at all possible!

The next most common secured debt is a mortgage on a house. While houses cannot be repossessed, a judicial foreclosure is a relatively uncomplicated court battle (for the mortgage company) where many homeowners have little chance for relief. A bankruptcy will stop a foreclosure in its tracks, but Northern Kentucky courts allow the mortgage company to include its legal fees in the money that has to be repaid, further increasing your burden. And like car loans, even one month arrearage on a mortgage payment can force bankruptcy filers into a Chapter 13.

Similar to the mortgage payment, it is important to keep rent payments up to date. Although a rental agreement is not a secured debt, it’s important to protect your home. Also, once an eviction is filed it cannot be stopped, even if the renter files for bankruptcy protection.

Next Pay Back Due Taxes, Student Loans, and Utilities

Taxes and student loans have one thing in common: they are non-dischargeable, which means you only get rid of them if you pay them off or die trying. Therefore, it’s a good idea to continue paying on taxes and student loans even if you are falling behind on credit cards and lines of credit. If you eventually fall into bankruptcy despite your best efforts, unsecured debts such as credit cards, lines of credit, and medical bills will get wiped out. Taxes and student loans won’t.

Utilities are important for an obvious reason: you don’t want your lights shut off. However, be sure to prioritize utilities. Electricity is more important than a cell phone, for example. Pay the utilities you can afford first. While a bankruptcy will discharge an unpaid utility bill (and the utility company cannot cut your power for filing bankruptcy), it won’t help you any if your lights are cut off while you prepare your bankruptcy paperwork.

Finally, Pay General Unsecured Debts – But Do It Right!

Unsecured debts are the lowest of the low under the law. This category includes credit cards, medical bills, lines of credit and personal loans, debts related to old repossessions, and pay day loans. If you have the money to pay them, you should. But there are some limits on this line of thinking. First, it is a bad idea to cash in a retirement fund, or to stop saving for a child’s college education via a 529 fund, in order to catch up payments on a debt. This is not just opinion: the law makes these types of funds completely exempt from seizure even when filing a bankruptcy. Uncle Sam wants you saving for your retirement to ease the pressure on the overburdened social security system, not sacrificing your retirement to add a few bucks to a billion dollar company’s bottom line.

Before you take big risks to pay back creditors, talk to an attorney. Lawrence & Associates has represented thousands of Northern Kentucky and Greater Cincinnati residents just like you. We are Working Hard for the Working Class, and we can help. Call today!


Bankruptcy Explained: Personal Bankruptcy Can Stop the Repossession Action and In Some Cases Get Vehicles Returned.

Posted on Friday, March 20th, 2015 at 1:18 pm    

If you have fallen behind on your car payment and face the threat of repossession, or if your car has already been repossessed for non-payment, a personal bankruptcy filing can stop the repossession action and, in the right circumstances, allow you to recover your vehicle. You want an experienced attorney to handle these matters for you, one who has protected the rights of others in similar circumstances. Bankruptcy Lawyers offer extensive experience to people with concerns about the repossession of personal property.

Experienced  Attorneys Can Stop Repossessions

Whether you have just received notice that your property is subject to repossession or your vehicle has already been repossessed, a Northern Kentucky Bankruptcy Lawyer can help. If you still have possession of your property, theycan work directly with the lender to restructure or renegotiate the terms of your loan. However, in many circumstances, the most effective way to stop a repossession or regain your property is through a Chapter 7 or Chapter 13 bankruptcy filing.

Bankruptcy options include…

  • Chapter 7 – Depending upon your income, you may be eligible for total and permanent financial resolution absolving you from certain types of debt, and immediately stopping all contact from debt collectors, garnishment, vehicle repossession, medical debt relief, tax relief, and credit card relief.
  • Chapter 11 – For business owners only. Allows you to completely reorganize your business debts while keeping your business intact.
  • Chapter 13 – Allows you to reorganize your debts into monthly payments you can afford and still pay off the debt over a period of time established by the court. This can have long-term benefits demonstrating to your lenders your willingness to pay them.

Immediate Relief

If you a Bankruptcy Attorney before your property is taken, they can immediately file a bankruptcy petition, which will put an automatic stay in place, suspending all legal proceedings, including repossession actions. Even if your car or other property has been repossessed, they may still be able to get it back for you by filing for bankruptcy protection before the property is sold. The sheriff may have served you with an Order of Replevin or the tow truck may be there right now, but we can still help prevent repossession.

Regardless of where you are in the repossession process, time is always of the essence. Your best chance to stop a creditor from repossessing your property is to contact Lawrence & Associates right away. We are always prepared to take swift legal action in order to stop a repossession and protect our clients.


Bankruptcy Explained: Stopping Foreclosure Through Bankruptcy or Loan Modifications

Posted on Friday, March 13th, 2015 at 12:15 pm    

avoidingIf you are struggling financially and have not been able to keep up with your mortgage payments, a personal bankruptcy filing under Chapter 7 or Chapter 13 can suspend foreclosure actions and help you get a fresh financial start. There are also ways that you can avoid foreclosure without filing for bankruptcy. You want an experienced attorney to help you understand your options, so that you can make decisions that are in your best interests. Simply allowing your home to be foreclosed upon without understanding your options can lead to serious consequences that follow you for years.

Questions to consider if you have received a foreclosure notice…

  • Have the foreclosure papers been properly filed by the mortgage company?
  • Is the current mortgage company the original mortgage company? If not, do they have the legal right to pursue foreclosure?
  • Has the current mortgage company padded the fees they are charging you?

Stopping Foreclosure Through Bankruptcy

Often, the fastest and most effective way to suspend foreclosure actions and save your home is through a Chapter 13 bankruptcy filing. When you file for bankruptcy, an automatic stay goes into effect, prohibiting your creditors from calling, writing or pursuing any legal action (outside of the bankruptcy) to collect on debt. Mortgage debt can either be discharged in a bankruptcy, if the property is going to be surrendered, or the debt can survive bankruptcy if you are attempting to retain the property. Chapter 13 can provide you with a structured way to catch up the mortgage arrearage in an interest and penalty free environment. If you want to delay a foreclosure to allow you to find alternate living arrangements, a Chapter 7 bankruptcy may be your best option.

If you file Chapter 7 bankruptcy, your debt relief normally includes…

  • Credit card debt relief
  • Medical bill debt relief
  • Collection calls must stop
  • Your assets are normally left intact allowing you to repay the debt (i.e., home, vehicles), and possibly reduce your payments, and/or interest owed.

If you file Chapter 13 bankruptcy, your debt relief normally includes…

  • Reorganization of credit card debt to possibly reduce interest, and extend the time to repay
  • Collection calls must stop
  • Your assets are normally left intact allowing you reduce your monthly payments, and possibly reduce interest.
  • All debts are repaid and lenders value your desire to repay them.

Stopping Foreclosure Through Loan Modification

Another option that will allow you to keep your home is the modification of the terms of your mortgage. Loan modification is not a cure-all, however. Unfortunately, we know of too many stories of people who tried to handle a loan modification effort on their own, only to have foreclosure proceedings filed against them when they thought a modification was in the works. Regardless of your situation, if you think foreclosure proceedings are imminent, you need to contact us.

Regardless of where you are in the foreclosure process, time is always of the essence. Your best chance to stop a creditor from taking your home is to contact Lawrence & Associates right away. We are always prepared to take swift legal action in order to stop a foreclosure and protect our clients.

Our Bankruptcy Explained Series

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logoLawrence & Associates Provides You With Debt Relief Solutions Through Bankruptcy

At Lawrence & Associates, we help our clients understand how bankruptcy laws are made to protect them and will allow for a brighter financial future.

Contact Us (859.371.5997) for a Free Consultation


Bankruptcy Explained: Protecting Your Paycheck From Creditors

Posted on Friday, March 6th, 2015 at 2:31 pm    

garnishmentIf you have received notice that a creditor is suing for the right to garnish your wages, or if they have already begun to deduct money from your paycheck, it is time to seriously consider your options in bankruptcy. Many people find themselves facing wage garnishment when they were already having trouble paying all their monthly bills. So, when one of your creditors begins to take money straight from your paycheck, you may find yourself in worse financial distress than before.

Protecting Your Paycheck From Creditors

A Northern Kentucky Bankruptcy Attorney helps its clients obtain debt relief through Chapter 7 and Chapter 13 bankruptcy. As part of this process, an attorney can help you deal with threatened or realized wage garnishment issues. When you work with a good Bankruptcy Lawyer, they will quickly assess your financial circumstances and decide which type of bankruptcy will be best for you and your family. Once they file a Chapter 7 or Chapter 13, the wage garnishment will stop immediately.

Experienced Bankruptcy Lawyers Can Stop Wage Garnishment

Good bankruptcy attorneys can stop creditors from garnishing your wages. They will work to build a strong and successful case for you against creditors that are or are wanting to garnish your wages.

Did You Know?

  • Once a creditor has secured a ruling to garnish your wages, they can often take up to 25 percent of your income per month, until the debt is repaid in full.
  • Even if a creditor has already begun to garnish your wages, there may be legal remedies to reclaim the money — but it is nearly impossible to achieve without a qualified lawyer on your side.

Regardless of where you are in the garnishment process, time is always of the essence. Your best chance to stop a creditor from taking your income is to contact Lawrence & Associates right away. We are always prepared to take swift legal action in order to stop a garnishment and protect our clients.


Bankruptcy Explained: Can Debt Consolidation Protect Me from Creditors?

Posted on Thursday, February 26th, 2015 at 4:12 pm    

Debt Consolidation Northern Kentucky

A consolidation or “workout” is an attempt to modify one or multiple debts without the need for bankruptcy, usually through a debt consolidation agency. The main issue with a workout is that most debt consolidation companies don’t provide local creditors with a contract that enforces the agreement.

Without a Contract Your Workout Can’t Be Enforced 

In Northern Kentucky, a debt consolidation agreement is subject to contract laws, and without a valid contract between you and your creditors the workout can’t be enforced in a Northern Kentucky County court. This means that, if a creditor such as a credit card (like Capital One), or a medical provider (like St. Elizabeth Medical Center) decides not to be bound by the terms of the workout, they can still sue you in the county in which you live. This is the central reason that debt consolidation agreements often do not work for Northern Kentucky residents. Creditors that do not participate in the debt consolidation plan are entitled to file a lawsuit, which sometimes makes the entire exercise pointless. Only filing bankruptcy provides Northern Kentucky debtors with the muscle they need to force creditors to obey the rules.

Debt Consolidation vs Chapter 13 Bankruptcy

There are many reasons why Northern Kentucky residents try to avoid bankruptcy by contacting a debt consolidation company. Many debtors believe bankruptcy is a bad thing, and try to avoid it by seeking a new repayment agreement with creditors. What those debtors don’t realize is that a Chapter 13 bankruptcy provides the same relief but also forces the creditors to abide by the new repayment plan. The downside of the debt consolidation agreement is that it will not freeze interest accumulation on unsecured debts, while a Chapter 13 bankruptcy will. Further, if the debt consolidation agreement fails, Northern Kentucky debtors will enter bankruptcy anyway, but with the added complication of having less money than they would have had if they had filed the Chapter 13 bankruptcy in the first place.

Lawrence & Associates is experienced in debtor-creditor law and we can advise Northern Kentucky debtors on whether a non-bankruptcy workout will provide immediate debt relief.


Bankruptcy Explained: Understanding Property Exemptions – Keeping Your House and Car

Posted on Wednesday, February 18th, 2015 at 1:19 pm    

If you file a Chapter 13 Bankruptcy, you can always keep your property. If you file a Chapter 7 Bankruptcy, the United States bankruptcy code allows you to keep your house, keep your car, and keep your property so long as your equity in that property is below certain thresholds at the time the bankruptcy is filed. Equity is the value of the property minus the amount of any loans secured against it. The amount of equity you can have and still keep your property depends on whether you file your bankruptcy in Kentucky or Ohio.

How to Keep Your House and Car When You File Bankruptcy in Kentucky

Kentucky allows you to use federal exemptions to keep your property. This is good, because federal exemptions are usually much more forgiving than state exemptions. Kentucky allows you to use Kentucky state exemptions as well, but they are not as good as the federal exemptions and are rarely used. You can read the entire section of the federal bankruptcy code that gives us property exemptions, 11 U.S.C. 522, here: http://www.law.cornell.edu/uscode/text/11/522. The exemption levels are adjusted every three years. For the latest levels, contact Lawrence & Associates or check our blog to make sure these amounts haven’t changed.

As a rule of thumb, if you file bankruptcy in Kentucky you usually only have to worry about protecting your home, your car, or any “luxury” items you might own (such as a nice boat). The federal exemptions are large enough that it is rare for anything else to be in danger. The good Fort Mitchell bankruptcy attorney assess your equity in your property for you, and report your options to keep your house, car, and other property to you before filing. For example, under the federal exemptions you can keep your home as long as your equity in the house and land is less than $22,975.00 (and married couples can keep their home with double that exemption). So a married couple filing bankruptcy with a $200,000.00 house and a $175,000.00 mortgage can keep the house since their equity ($25,000.00) is less than the total exemption ($35,950.00). Figuring out how to value the home, car, or other property appropriately is sometimes a matter of controversy, but your attorney will be able to affix all values before filing.

How to Keep Your House and Car When You File Bankruptcy in Ohio

Ohio requires that you use the state exemptions, but does not allow federal exemptions. This can be good or bad, since Ohio has a much better exemption for your home, but lesser exemptions in other areas. Other than the change in exemption levels, the analysis works basically the same when you file bankruptcy in Ohio as it does when you file bankruptcy in Kentucky. Unfortunately, because Ohio’s exemptions are so much worse than the federal exemptions (again, other than the exemption for your home), many people who file bankruptcy in Ohio have more trouble keeping their car, or other property.


Bankruptcy Explained: What Actions Can a Creditor Legally Take to Collect A Debt?

Posted on Friday, February 13th, 2015 at 4:24 pm    

creditor harassmentA good bankruptcy attorney can protect you from abusive and threatening creditors. Creditors are notorious for using threats, intimidation tactics and false information in order to scare debtors into making payments. The truth is, regardless of your ability to pay, or what a creditor may claim, there are certain actions they cannot legally take. When you know the facts, you are in a better position to make decisions about your financial future and stop the abuse. According to the Fair Debt Collection Practices Act, creditors are prohibited from “abusive, deceptive and unfair debt collection practices.” If a creditor continues to violate these laws and harass you and your family, you may be able to bring a claim against them and sue for financial damages.

Find an Experienced Creditor Harassment Attorney

Find an experienced Northern Kentucky Bankruptcy Lawyer who has handled creditor harassment cases in the past. A good bankruptcy attorney will work to build a strong and successful case for you against creditors that are harassing you.

The truth about debt collection attempts is that…

  • Creditors CANNOT call you at work once you have asked them to stop
  • Creditors CANNOT call you excessively or at unreasonable times
  • Creditors CANNOT call your family members and reveal the alleged debt
  • Creditors CANNOT intimidate you by providing false and misleading information
  • Creditors CANNOT have you arrested
  • Creditors CANNOT use vulgar or abusive language
  • Creditors CAN file a lawsuit to have a lien placed on your home
  • Creditors CAN seek to repossess your automobile
  • Creditors CAN attempt to garnish your wages
  • Creditors are legally obligated to cease all contact and collection attempts once you have filed for bankruptcy. If they do not, you have the right to sue them.

Contact Us (859.371.5997) for a Free Consultation


Bankruptcy Explained: What Type of Bankruptcy Should I File?

Posted on Friday, February 6th, 2015 at 9:04 am    

types of bankruptcyAdvice from an attorney is your best bet when deciding if you should file a Chapter 7 or Chapter 13 bankruptcy.  Are you facing foreclosure from a bank like Wells Fargo, being sued for medical bills by a hospital like St. Elizabeth, or confronting a mountain of Capital One credit card debt? Filing a Chapter 7 or Chapter 13 bankruptcy will end the harassing phone calls and letters. You must comply with the terms of any repayment agreement or you will lose these protections, so it is important to have strong legal guidance before agreeing to anything. Choosing the right kind of bankruptcy can mean the difference between keeping your house, keeping your car, keeping your money, or losing it all. Some of the things a Northern Kentucky Bankruptcy attorney will need to know is a client’s past income and current assets. Knowing the asset exemptions and median income levels of the client will help to make the decision easier.

Chapter 7 Bankruptcy

A bankruptcy lawyer’s first step will be to determine whether you are eligible for protection under Chapter 7. The 2005 revisions to the bankruptcy laws require that, to qualify to discharge debts under Chapter 7, you must submit to a “means test,” demonstrating to the court that you lack the means to repay your creditors in a Chapter 13 proceeding. We will conduct a means test and, if you qualify, we will prepare and file all documents required to complete the Chapter 7 process. We will carefully explain which debts can be eliminated, as well as which assets you can protect, so that you get the benefit you deserve.

In General, You Cannot File a Chapter 7 Bankruptcy If You…

  • have filed a bankruptcy in the last eight years
  • have assets with significant value that you don’t want to lose
  • have income over median for your household size in the Commonwealth of Kentucky.

Make Sure to Assess The Value of Your Property Correctly

Figuring out how to correctly assess the value of your property, or the correct number for median income, can be a daunting task, and the consequences of making a mistake are very drastic. A Northern Kentucky Bankruptcy lawyer will make sure your bankruptcy is filed correctly so that you get the maximum benefit from your decision to file.

You Get Immediate Relief  After You File a Chapter 7 Bankruptcy

Once you file for protection, an automatic stay goes into effect, preventing your creditors from calling, writing or taking any other legal action to collect the debt. A Chapter 7 bankruptcy petition can also stop foreclosure proceedings, wage garnishments and repossession actions. With the help of a lawyer, in Kentucky, a Chapter 7 bankruptcy proceeding can generally be completed in 3 to 5 months.

Chapter 13 Bankruptcy

If you don’t qualify to permanently discharge debt under Chapter 7 or prefer to set up a new payment plan with your creditors, we will help you reorganize your debt in a Chapter 13 bankruptcy filing. We will prepare and file all the necessary paperwork to complete the process and will represent you in hearings or meetings with creditors, the bankruptcy trustee or the bankruptcy court. We will help you put together a reorganization plan and will review all proposed repayment plans to ensure they are appropriate.

You Get Immediate Relief  After You File a Chapter 13 Bankruptcy

When you file for protection under Chapter 13, an automatic stay goes into effect, which prevents your creditors from calling, writing or using any other means to collect the debt, other than through the bankruptcy proceeding. The automatic stay will suspend foreclosure or repossession actions, as well as wage garnishments, giving you time to get back on your feet financially. In many instances, you will be able to reduce the amount you have to pay, sometimes to as little as a penny on the dollar, by entering into agreements with your creditors. A Chapter 13 bankruptcy can be ideal for someone with large medical bills or credit card debt, allowing you the opportunity to keep most or all of your assets and enter into payment arrangements that are workable.

Contact Us (859.371.5997) for a Free Consultation

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