Is There Help Available Without Filing Bankruptcy?

In a word, YES. If you have a small amount of creditors or really don’t want to file bankruptcy, I can help by negotiating with your creditors. Often the amount you owe can be reduced since the creditors are happy to be paid something, rather than nothing. Also, if you have been sued, you have 30 days from the date of service to file a legal response. Often, creditors are more willing to negotiate with you if you are represented by an attorney in a debt-collection case.

What Is The Difference Between Secured And Unsecured Debt?

It is very important to understand the difference between the two. Secured debt is tied to an asset, which is considered as collateral against the debt. If you fall behind on your payments, the creditor can seize the asset and sell it to cover the amount you owe on your loan. This occurs at foreclosure sales and auctions of repossessed vehicles. If the property does not sell for enough to cover the balance of the debt, the creditor may pursue you for repayment of the difference.

Examples of secured debt:

• Mortgage
• Car Loans
• Tax Liens
• Judicial Liens

With unsecured debt, the loan is not tied to any collateral and the lender cannot pursue you for possession of collateral. However, if you fall behind with your payments the lender may use a debt collector to harass you into repaying your debt or they may apply to the court to have your wages garnished. They may also report you to a credit reporting agency, which will have a negative impact on your credit rating.

Examples of unsecured debt:

• Student Loans
• Medical Bills
• Credit cards

The information provided on our website is not, nor is it intended to be legal advice. For legal advice or counsel you should consult directly with an attorney. Contacting us via this website, email, fax, phone, or other electronic means of communication does not create a client-attorney relationship. Please do not send to us any confidential information until a formal attorney-client relationship had been established. 

Pursuant to 11 USC §528, all bankruptcy attorneys have been designated “debt relief agents” and are required to disclose that we help people file for bankruptcy relief under the United States Bankruptcy Code.