The motto of our firm is A Shield in Time of Need™, as the goal of John M. Given is to protect and assist those who are at challenging crossroads in life. If you need such assistance, don’t hesitate to reach out.
IF YOU ARE GARNISHED, LEVIED OR SUED
If a debt collector sues you it does not mean they will win automatically. Just because a debt collector is threatening you with wage garnishment or you are being garnished doesn’t mean that the debt collector is entitled to your money. If you are being contacted by a creditor with a debt collection or wage garnishment, you may enlist the assistance of someone who has years of experience in this area to help you.
Creditors are often more willing to work with lawyers experienced in debt collection relief than consumers. We can help you find the best repayment method possible. Your rights will be protected and we are often able to negotiate reductions of fees and penalties and work out a repayment plan that satisfies both sides.
STOPPING REPOSSESSIONS AND FORECLOSURES
Repossession, sometimes called “repo” for short, is a self-help type of action in which a party having right of ownership of the property in question takes the property back from the party having right of possession, without invoking court proceedings. If you become delinquent on your car loan, you risk losing your vehicle. When you purchased your vehicle and applied for a loan, you signed a legally binding contract stating you’d make on-time payments. Fall behind, and the creditor can take the car back and sell it at auction to recoup the cost of the vehicle.
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan. This occurs because a borrower has stopped making payments to the lender, forcing the sale of the asset used as the collateral for the loan. Most commonly, foreclosure is what happens when a homeowner fails to pay the mortgage.
It is important when you are facing repossession or foreclosure that you take certain steps immediately. Time is of the essence. Contact us for the actions necessary to stop repossession or foreclosure proceedings. You may need a car to get to work, or need to maintain your family home while working out options for resolution.
CHAPTERS 7, 11 AND 13
In the United States, bankruptcy is governed by federal law. While bankruptcy cases are filed in United States Bankruptcy Court (unitS of the United States District Courts), and federal law governs procedure in bankruptcy cases, state laws are often applied when determining property rights. For example, law governing the validity of liens or rules protecting certain property from creditors (known as exemptions), may derive from state law or federal law. There are several Chapters to the bankruptcy laws, and which may pertain best to your situation is a matter for discussion after review.
Chapter 7 bankruptcy is sometimes referred to as “straight” bankruptcy. Under Chapter 7, most debtors can eliminate their unsecured debts quickly by surrendering their assets. Unsecured debts are debts like personal loans or credit cards that have no collateral for the loan. The court appoints a trustee to oversee your case. The trustee doesn’t take all your property. You’re allowed to keep enough exempt property to get a fresh start.
Chapter 11 bankruptcy is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. It allows consumers to restructure their debts and pay them back over time. Chapter 11 may be useful for someone who does not qualify for Chapter 13 though it is more complex.
The goal of Chapter 13 is also to eliminate debts. However, it creates a plan to repay some or all debt over three to five years. Chapter 13 is often used in situations where someone wants to save their home from foreclosure, or where they can afford to pay some, but not all, of their debt. Individuals usually reorganize under Chapter 13.
Which type of filing will be most beneficial for you? Want a no-cost review of your case? John M. Given will be glad to speak with you.