ARE your debt problems putting your family’s welfare at risk? No one ever wants to be in this situation but I see it every day in my work as a bankruptcy attorney.
When you are overwhelmed with debt problems, the situation becomes even more challenging when you have a family that you are supporting. Your paycheck may not even be enough to pay for basic living expenses like mortgage payments or rent, food, clothing, etc., let alone pay your monthly debt obligations. When you have to choose between paying your debts and meeting your family’s financial needs, that’s when you have a dilemma in your hands. You want to do the right thing by meeting your financial obligations but you also realize that you need to put family first before anything else.
A lot of people wait too long to take action when they have bill collectors pursuing them. For a while, they ignore the phone calls and the letters, thinking that somehow their creditors will just give up and go away. Well, they may for a while but when collection efforts become more serious, you can get hit with a lawsuit. Once a lawsuit becomes a judgment, the creditor can then garnish your wages or levy on your bank accounts.
I had a couple come to our office last week and this is exactly what happened. They were sued by American Express for $11,000 on a credit card account, which they ignored for a long time. They moved a couple of times since they fell behind on the debt so they thought that since the creditor no longer knew where they lived, they could just hide and ignore the bill. Lo and behold, checks that they wrote from their bank account started bouncing and they didn’t know why. Their bank then told them that their account has been wiped out by a bank levy. Their paychecks and what little reserve they had in the bank (a total of about $9,000) all gone in one day! Now, they couldn’t even afford to pay their mortgage this month. Do you see how things can just easily snowball and get out of control unless you take action to stop problems from getting worse?
Don’t let this happen to you. If you have debts in collection, don’t bury your head in the sand pretending that these debts don’t exist or you may be in for a rude awakening. I am not saying this to scare you into filing bankruptcy. I am saying this so that you can at least find out what your options are if your debt problems are putting your family’s welfare at risk. You owe it to them and yourself to protect your income and everything that you’ve worked so hard for.
For a free attorney consultation, please call Toll-Free 1-866-477-7772. We have offices in Glendale, Cerritos , West Covina and Valencia.
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None of the information herein is intended to give legal advice for any specific situation. Atty. Ray Bulaon has successfully helped over 4,000 clients in getting out of debt. For a free attorney evaluation of your situation, please call Ray Bulaon Law Offices at TOLL FREE 1-866-477-7772.