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Creditors May Try to Satisfy Debts by Seizing Your Property

house with ball and chain

While numerous financial deals throughout your life may seem like intimidating or risky propositions, one of the worst situations you can find yourself in is to be mired in debt. Money issues cause stress that is multi-layered. You may be worrying about how to pay for the essentials, as well as alternately speaking with and dodging the debt collectors who call relentlessly. Credit card debt may be keeping you down—and this is extremely common today as household debt reaches historical highs—however, most must also deal with mortgage or rent, a car payment, and student loans too.

There is stress in trying to tread water financially and there is stress in trying to explain to others when their money is arriving, but ultimately the worst stress is in dealing with the unknown. As the Coronavirus pandemic has affected so many of us today, leading over 26 million to unemployment lines, financial anxiety is exacerbated, not to mention worries over health.

If you were already dealing with financial problems before COVID-19 began locking down the world and stealing the livelihoods of so many, there probably is no sugar-coating the situation now. If you are being sued or have already lost a collections lawsuit, it is critical to speak with an attorney regarding what could happen next, and how to fend off further action that could render you extremely vulnerable.

Without a comprehensive reply or a suitable defense to a collection lawsuit, creditors can walk away from the winnings of court bearing considerable power against you for seeing the debt satisfied. One of the most common ways to do so is by garnishing wages; however, they may move on to freeze checking accounts and even seize property. Unfortunately, there is the possibility—and it is completely legal—for your assets to be seized and then sold out from under you at a public auction. To avoid such action, speak with a default judgment attorney as soon as possible.

Speak with an attorney from Fitzgerald & Campbell, APLC as soon as possible to examine your options. Our attorneys have decades of experience in serving clients as they navigate through challenging financial situations, to include student loan issues, bankruptcy, and other debt management processes. We are here to help! Click here to schedule a free 30-minute consultation, call us at (844) 431-3851, or email us at info@debtorprotectors.com.

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