The point of this article is to remind the public that these debts are not just going to go away. Creditors are not going to all of a sudden stop calling. The lawsuit will eventually come and with the lawsuit will come a judgment. Once a creditor receives a judgment they can garnish wages, levy bank accounts, and even put liens on personal or real property, such as your home. I send out advertisements to people who are being sued every week to let them know they have options and bankruptcy may be in their best interest. Bankruptcy will take care of these debts and rebuild your credit far faster than trying to pay these creditors $50-$100 per month. The interest is expensive. Bankruptcy is not.
The decision to file or not to file a bankruptcy can be stressful and overwhelming. Clients come into my office for a reason. Maybe they are overwhelmed by their growing debt, perhaps they are annoyed with the phone calls, and in many cases they have already been sued and are currently having their wages garnished. Things do not automatically get better when you pay an attorney a retainer, leave his office and then forgot about finishing off your case. Your creditors need a case number. That is the only thing that is going to stop a garnishment or the risk of being sued and being dragged into court to defend yourself. Once you have a case number creditors are forced to leave you alone. They will no longer be able to call you. They will no longer be able to sue you and, most importantly, they will no longer be able to garnish your paycheck.
Some clients will pay some money down, leave my office and I will not hear from them again. Then, one day, they get served with papers from a process server to appear in court and then remember they were going to file a bankruptcy. Now it is a year later, you still have only paid a small down payment towards your case and you have put 25% of your paycheck at risk because now you have a lawsuit you have to defend. It is just not worth it. If you start a bankruptcy and pay a retainer fee then you started it for a reason. It is very important you complete the process.
Filing bankruptcy is an important decision and should not be taken lightly. We offer free consultations and have an office in Florissant and St. Charles, MO. Please do not hesitate to give us a call at 636-352-2030 if you have any questions regarding this issue or anything else related to bankruptcy. We are also now currently taking traffic cases and family law cases in the St. Louis and St. Charles area.