Have you received a letter that looks like these?
ALLY FINANCIAL: Post Vehicle Repossession Suit
MIDLAND FUNDING: Debt Buyer Suit
BANK OF AMERICA: Original Creditor Suit (or Loan Deficiency Suit)
What to do when served debt papers in Weatherford, Arlington, North Texas
This can be an unpleasant experience. It’s not something anyone wants to go through. At the same time I hope you remember the moment you opened this page as the beginning of the end to your troubles.
You’ve done the right thing to research your next available steps. I’m James Foley, PLLC, and I am a debt relief agent. Call me and I can discuss the following with you, or you can read through yourself, and then phone me at 817-738-1633.
Are you concerned that they will put you in jail? Only in rare circumstances that involve being held in contempt of court, which generally only applies in a post judgment scenario. Please call me at 817-738-1633.
There is a light at the end of the tunnel, whether you’re in Tarrant County, Parker County, or beyond.
1. Immediately address the notice, and plan to deal with it.
Clients who have received debt notices from Arlington TX to Weatherford and Aledo have chosen to deal with the companies suing them. You should too. Whether it’s a single suit, or you’re drowning in notices, this is your chance to turn things around.
Many cases have very short time limits for you to take action, some in as little as 14 days. Acting in this timeframe is crucial, otherwise the court might think you wish to forfeit your case and grant a default judgment.
This isn’t a defeat, but instead your first step toward the end of the tunnel.
2. If the notice is legitimate, determine your ability to pay.
If you don’t have accounts with the bank or lender that’s suing you, you may have had your identity stolen. If that’s the case, your way out is much easier than you may think, as long as you notify the court of the concern. The first step is to get a police report. The next is to go to the Federal Trade Commissions Website and do what is called an FTC Identity theft affidavit. The next step is to contact the credit bureaus (Trans Union, Experian, and Equifax) and initiate a credit freeze. Then someone will contact you for verification every time someone attempts to take out a new account in your name. That said you still have to answer the lawsuit and present your defense to the court. I can help you navigate these waters.
(Always take the time to check your report of credit at www.annualcreditreport.com.)
If you suspect that the suit against you is not legitimate, the citation should contain the court’s phone number. If not you can call me.
Even if you believe that you owe the debt, you still have options, which you might not realize. Lenders take clients to court in order to get their money back, not to make your life any more difficult than it needs to be. If you think you could pay off the debt with more time, call me and we can discuss the prospect, if Bankruptcy is your best option I will tell you that. Depending on a number of factors it might be best to take them to trial and make them prove their case. Whatever you do, as long as you act, you’re on your way to financial stability.
There are many situations where choosing to pay off a debt might not be the right decision, or it may not be possible in your current situation. If that’s the case, we’ll consider bankruptcy, which IS NOT a death sentence.
I can help you get a fresh start, without having to lose your home or other assets that are valuable to you.
3. The “B” Word -- Not a death sentence.
A couple of centuries ago, bankruptcy may have been a death sentence, but not today. There are no longer debtor’s prisons or Charles Dickens books about them. Nowadays we have a more modern approach, which works out better for all parties involved.
Bankruptcy is a scary word, but a fairly straightforward process. I’ve guided multiple clients from Arlington, Grand Prairie, Granbury, Haltom City, Aledo, White Settlement, Weatherford, and Azle through this process of Debt Defense and possible bankruptcy. For anyone considering bankruptcy in Texas, call me today.
By now you’ve done your research, and probably know the difference between bankruptcy options. Whatever your level of knowledge may be, know that you no longer have to endure the talking heads. We’ll sit down in person at my Fort Worth offices, and I can walk you through whether you may be better suited for chapter 7 or 13 bankruptcy.
From loan deficiency suits to vehicle repossessions and more, if bankruptcy is your best option, I can be the judge of that. We’ll evaluate your position and make sure you’re in the best place moving forward to discharge your debts. And after it’s all said and done, you may never need to step before a judge.
The Light at the end of the Tunnel
I’ll do my best to get you established as a chapter 7 bankruptcy, allowing you to retain important assets, as well as important personal possessions. We’ll use an equation to determine your eligibility, and then I’ll coach you through each step of the process.
No matter what happens, and whether you’re in Weatherford, Arlington TX, or Fort Worth, call me today at 817-738-1633.
Take a deep breath. Everything will work out.