In May 2012 hundreds of homeowners stand to lose their homes to foreclosure in Dallas County. Bankruptcy can stop that foreclosure the moment the voluntary petition is filed. A Chapter 13 bankruptcy can stop the foreclosure process for up to five years.
The setoff is a little-known tool that moneylenders have to collect a debt which they allege that you owe. If you have an outstanding balance on a credit card issued by Bank A, and you have a deposit account with Bank A, then Bank A may be able to seize funds from your account to pay that credit card bill.
A setoff violates the automatic stay. Especially in Texas, moneylenders face stiff penalties if they disregard the automatic stay. Sometimes, it’s nice to have the law on your side.
3. Debt Buyers
In 2010 there were over 140,000 complaints against debt collectors; only identity thieves were more ill-mannered than debt buyers. Debt buyers are asking for even more harassing powers than they already possess.
Bankruptcy will stop harassment from the debt buyers. The automatic stay stops the phone calls. The discharge of unsecured debts makes the debt buyer go away forever.
Don’t suffer the inconvenience of losing the family car. Use all the tools you have, including bankruptcy, to preserve what is yours.
5. Emotional Anxiety
There are few things worse than staying awake at night and worrying about your financial tomorrow. Call the law office of Henley and Henley for your free consultation. They can help make tomorrow much more certain than today.