Recently in Debt Category

Can Two Creditors Garnish Up to 50% of Your Take-Home Pay?

iStock_000007320537XSmall.jpgUsually, when a person is sued by a creditor or is served with a garnishment order, a debtor/employee's first recourse is to contact a bankruptcy attorney, requesting that the attorney file a Chapter 7 or Chapter 13 bankruptcy petition on their behalf. While bankruptcy, is no doubt, an efficient and effective means of eliminating a wage-garnishment order, it's not always a feasible option. As I stated in "What Are All My Options For Dealing With my Overwhelming Debt?" blog post, one-size does not fit all. Specifically, there are many reasons a debtor-employee would not wish to file bankruptcy. For example, the employee-debtor has no other debt or is judgment proof. It may surprise many readers to learn that sometimes, challenging a wage-garnishment is better than filing bankruptcy, especially if they are able to challenge a wage-garnishment order--and win; or, challenge a wage-garnishment order and pay but a small fraction of the original wage-garnishment order amount. The next question is this: if a second judgment-creditor attempts to garnish an employee-debtor's wages, is it time for the debtor-employee to file bankruptcy--for fear the second creditor will also seek an additional 25% of the employee-debtor's take home pay, for a total of 50%?

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"How Do I Know If Debt Settlement Is Right For Me?"

images[10].jpgAt the Law Office of Linda C. Garrett, an online virtual online law office, providing full-scope and limited-scope legal services in the practice areas of consumer law, mortgage law, bankruptcy law and family law, to include unbundled legal services, I have talked with many consumers, fearful and confused about the concept of debt settlement. Many people, including lawyers, have strong opinions about debt settlement. On the one hand, consumers are told "don't do it, just file bankruptcy and get a fresh start," or, on the other end of the spectrum they are told, "It's great because if you can negotiate a good settlement, you can avoid filing bankruptcy--which is less harmful to your credit score and not as expensive as filing bankruptcy."

The purpose of this blog post is to discuss the pros and cons of debt settlement.

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"What Does the Term 'Judgment Proof' Really Mean and Should I File Bankruptcy if I am Judgment-Proof?"

images[9].jpgBy 2008, resulting from the drecession, I was receiving approximately, 20 calls per month from individuals requesting that I file a Chapter 7 or Chapter 13 bankruptcy on their behalf because they were, amongst other things, being harassed by their creditors. At the Law Office of Linda C. Garrett, an online virtual law office, providing full-scope and limited-scope legal services in the practice areas of consumer law, mortgage and HAMP law, bankruptcy law and family law (to include unbundled legal services), I always caution my clients against making bankruptcy their first option--and instead, ask that they consider it their last option.

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"What Exactly Is a Creditor Lawsuit and Do I Have Options Besides Bankruptcy?"

iStock_000018620563XSmall.jpgAt the Law Office of Linda C. Garrett, a Solano County, California-based Consumer, Bankruptcy and Family-law practice, I receive many calls from distressed individuals regarding creditor lawsuits--pending and completed. The typical caller usually calls me a day or two after having been personally served with a Summons and Complaint from their creditor or after receiving a wage-garnishment order or notice of bank levy. My caller is usually in a panic and fearful that the creditor will garnish his wages and/or levy his bank accounts.

The purpose of this Blog Post is to educate the reader that not only do they have many legal rights, but many options as well!

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Start 2012 Off Right--Take the Financial Budget Test

iStock_000017190002XSmall.jpgAt the Law Office of Linda C. Garrett, an online virtual consumer, bankruptcy and family practice, I receive numerous questions regarding financial matter to include issues relating to overwhelming credit card debt and payments, student loans, defaulted mortgage loans and many others.

Are budgets important and is there any correlation between budgeting finances and financial problems?

Purpose of this Blog Post

To educate consumers about the relationship between budgeting and financial problems. From my experience, they is a direct link between the two.

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Are You Judgment-Proof? Take the Test

iStock_000010699724XSmall.jpgShould You File for Chapter 7 or Chapter 13 Bankruptcy If You Are Judgment Proof?

In my Solano County, California-based, online Consumer, Family and Bankruptcy practice, I come across many individuals who are determined to file bankruptcy. Most times, the strong desire to file bankruptcy is fear-based, not fact-based. I recommend you take my test to determine whether you are judgment-proof?

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