YOUR debt problems may be undeniable. You know they are there and they will not go away until you do something about them. Perhaps at some point, you took the first step towards a resolution but failed to follow through.
This week, I received a frantic call from a woman who found out that her bank account was frozen due to a levy by a creditor who had obtained a judgment against her. She paid her bills this month from her regular checking account- rent, utilities, some debt payments, etc.- only to find out that all her checks bounced. She couldn’t believe what happened until she called her bank and they told her the reason why. It seemed like all of a sudden, she had a financial emergency in her hands? Or was it really “sudden”?
I later found out that her debt problems didn’t just happen overnight- they have been years in the making. I asked her if she knew about this creditor and she said yes, but she hadn’t heard from them in a long time so she thought it was safe to just ignore the debt until she had the money to pay them. Now in one fell swoop, her entire savings and paycheck for the month have been taken to satisfy a creditor judgment for more than $8,000. This could have easily been avoided had she taken the time early on to at least find out what legal options she had to protect her paycheck.
As it turned out, she also owes other creditors that she’s been evading for the last few years and what started out as a total debt amount of $30,000 in credit cards has now grown to almost $40,000 with all interest, late fees and collection costs added. Her credit has also been trashed with negatives reported by creditors over the last few years since she stopped paying. (If she filed bankruptcy a few years ago, she actually would have rebuilt her credit by now.)
If you are in this situation, let me ask you a pointed question: Are you satisfied with what you have done about your debt problems? It can be quite difficult living your life hiding from your creditors and not knowing what they will do next. You’ve worked hard to acquire what you have. Perhaps you have a family that you are supporting who depends on you 100 percent. What will happen if your paycheck and bank account were put at risk? Unless you gain control of your financial situation, there could be all kinds of consequences and you already know that they will not be pretty. So what are you going to do about it?
You can spare yourself the stress and anguish that can result from unresolved debt problems. Whether that means calling your creditors to work out a repayment plan or filing bankruptcy to eliminate or consolidate your debts, there is something that you can do right now to stop things from getting worse. There is nothing like having peace of mind knowing that what little you have cannot be taken away from you without notice. If that happens to you, you really have no one to blame but yourself.
If you need help in figuring out your options, please call Toll-Free 1 (866) 477-7772 and let us review your situation. We have offices in Glendale, Cerritos, West Covina and Valencia.
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None of the information herein is intended to give legal advice for any specific situation. Atty. Ray Bulaon has successfully helped over 4,000 clients in getting out of debt. For a free attorney evaluation of your situation, please call Ray Bulaon Law Offices at TOLL FREE 1-866-477-7772.