I posted a new video on the Chad Talks Law YouTube channel. It’s a walkthrough of bankruptcy forms for a chapter 7 bankruptcy. Take a look!
The first option is both the easiest and the most difficult. If you have the money to simple pay the judgment, you can stop the garnishment almost immediately by paying the full balance owed. In reality, 99% of people who have judgments against them are not in a position to pay the judgment immediately. If you can't pay the judgment immediately (and let's be honest—most people can't pay a large judgment with spare cash), there may be other options.
If debt collectors or other businesses are calling or texting your cell phone without your permission or consent they may be violating the Telephone Consumer Protection Act. Each phone call could be worth up to $1,500 in damages. Some companies or collection agencies will call 5 times a day for weeks at a time. The damages can add up quickly. If you are getting texts, calls, or faxes from debt collectors or other businesses, call me immediately and do not delete your call history. I might be able to help you.
First of all, don't panic. You need to be thinking clearly because what you decide to do next will have a major impact on a number of things. The first thing you should do? Write down who served you, how you were served, and where it happened. If you were served personally, write down what the person looked like. If you found the papers on your porch, write down exactly where, how they were held together, and the address where they were left. If you found them in the mail, save the envelope.
For people who have never filed for bankruptcy (and for lawyers that don't practice bankruptcy law), the actual mechanics of filing for bankruptcy are unknown. The goal of this post is to answer some common questions about filing from bankruptcy and to give you an idea of what a typical bankruptcy proceeding under Chapter 7 entails. We'll touch on Chapter 13 later.
Many people see bankruptcy as a big, scary bogeyman that will strip away all of their hard work and leave them destitute, penniless, and pathetic. This couldn't be further from the truth. While there are some downsides to bankruptcy and it isn't a pleasant experience, it is usually much better than living in constant, unending, crushing debt. Some of the pros and cons of bankruptcy are explained below.
A lot of people go into a Chapter 7 Bankruptcy not knowing much about how the process works. Today I am going to spend some time outlining what happens in a typical Chapter 7 case from consultaiton to discharge and beyond. This may not be how your case goes, as every case is different, but most Chapter 7 cases follow a very similar pattern through the bankruptcy court.