Creditors Beware: Consumers Who Know Their Legal Rights!

Did you know you could become UNTOUCHABLE to creditors? When consumers are not able to make ends meet they feel defeated and think: “Do I really need to pay them something? I owe everyone money but who comes first?” If you are tired of making those decisions, you should come up with a plan of action. You have the power and legal right to take control of this situation. You no longer have to feel overwhelmed.

The law allows many remedies for consumers who find themselves in financial difficulty. You do not have to deal with the harassing calls nor with the threat of potentially losing your home. The law allows legal protection against your creditors through different venues. Most commonly individuals that are in the process of foreclosure do nothing until it is too late. As an attorney my advice to individuals served with foreclosure documents or who anticipate foreclosure is to come up with a plan of action. You don’t have to sit there and wait for the creditor to tell you when to leave YOUR home. You have the right to fight back and take control.

How do I do that? There are different strategies you can use to either get your home back or to let your home go when you are good and ready to let it go. The law allows homeowners to either protect their home through a bankruptcy or foreclosure defense. Sometimes both options are available to the homeowner. As an attorney who practices both areas of law, it is common for me to see clients scared of the unknown. However, after finding out what their legal rights are they are relieved and have a sense of direction.

Many times, people think they will lose everything in bankruptcy and that they will never be able to recover their creditworthiness. These misconceptions are absolutely false! You may be able to keep your home, your car, and other assets if you are prepared for it and if your attorney advises you accordingly. You will be able to re-establish your credit, but like all things in life, you must work on becoming creditworthy. I prepare and give the tools my clients need to accomplish this goal.

Other consumers are struggling with credit card debt. They feel there is nothing they can do about it. If it comes down to either paying their home or a credit card, there is no real choice. However, the credit card companies continuously bully, harass, and misinform you of the law. Remember the creditor is looking out for their own interest, not yours. Unfortunately, credit card companies can and will sue you, take you to court, and then come after your wages. As if having financially difficulty isn’t problematic enough! We need to tell the creditor to stop their harassment and let them know you will not be bullied any longer. You have a legal right to prevent your creditors from suing you and coming after your hard earned paycheck!

Other consumers are being sued for different reasons such as a repossessed vehicle. Not only did the creditor take your car away and turn a profit when they sold it to someone else, but they now want you to pay what is owed on the vehicle. Being in debt is hard enough, and being sued for being in debt can be flat out scary! So what are your options? In most cases, the law allows you to file bankruptcy.

Bankruptcy is the legal process in which you declare your inability to pay your debt. There are different types (or Chapters) of bankruptcies available. The most common form is a Chapter 7, which is liquidation, or simply getting rid of the debt. A Chapter 13 bankruptcy is a reorganization of your debt in which you arrange to pay the creditors during a specified period of time. In general you can keep your home and most of your assets when filing bankruptcy. However, it is best to consult with an attorney to find out what your particular case will be. Bankruptcy is not right for all consumers, but it may be a remedy for most.

It is important to know what your legal rights are. You must take it upon yourself to come up with a plan of action. Don’t let your creditor defeat you without knowing your rights. Let us help you with a plan of action!

Copyright © 12/29/10, Rachel Alvarez, All Rights Reserved