Are You Being Harassed By Creditors? Seek Consumer Protection
Bankruptcy laws are there to protect everyone – debtors and creditors. There are times when the burden of debt becomes so great that you just cannot meet all the demands being made on you. You may find there are garnishes on your wages and/or bank account, debt collectors knocking on your door at all hours, and even scrupulous debt collectors trying to remove property (often illegally). You are entitled to consumer protection even though you are well overdue on repayments.
Your first step should be to consult a lawyer who is well versed in bankruptcy law. It may sound strange, adding the cost of legal assistance to your list of debts. However, the money they may save you in the long run will well and truly repay the costs. If you are eligible, a lawyer’s first act will most likely be to file a petition for bankruptcy under either a Chapter 7 or Chapter 13 clause.
There are two real benefits to filing a petition for bankruptcy. Having too many debts is often caused by poor financial planning. Part of the bankruptcy process is to undertake financial counseling. More importantly, while undergoing the bankruptcy process, you cannot take on any further debts. It effectively stops any poor spending habits.
Filing a petition for bankruptcy will have also have other immediate effects on your life. For one, it should stop, or at least slow down the harassment you have been receiving from creditors. In fact, once the bankruptcy process has commenced, creditors are no longer permitted to harass you. If they wish to contact you it should be done through a trustee who will be appointed by the courts.
Individuals who are in financial difficulty are still entitled to consumer protection. Seeking legal help can often bring to a stop any harassment – even if a bankruptcy application isn’t proceeded with. Lawyers can help to negotiate alternative arrangements until you are in a position to resume normal payments. Seek advice rather than letting it all get to you.
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October 21st, 2010 at 1:23 am
Yes it’s true. To seek an advice to a legal counsel is quiet easy. If you’re considering filing for bankruptcy it is important to have a good bankruptcy lawyer on your side. Your bankruptcy lawyer will help you to navigate through the court proceedings effectively. To find a good bankruptcy lawyer you will need to do some homework. Avoid picking a name out of the phone book. Instead do some research on good lawyers in your area. One of the best ways to find a reputable lawyer is through word-of-mouth referrals from other legal professionals.If you can find several individuals who have been satisfied with a lawyer’s performance chances are he or she is probably doing a good job of representing his clients. A good bankruptcy lawyer can help your case, but many lawyers are overworked and may neglect important details based on a heavy caseload. Don’t let this happen to you! An incompetent bankruptcy lawyer can seriously jeopardize your financial future so don’t waste time on inferior services. Start searching for a good bankruptcy lawyer the minute you decide to file for bankruptcy. The sooner you enlist professional help the easier the process is going to be. Don’t put it off until the last minute!