Dealing With A Judgment Using A Corona Bankruptcy Expert

Dealing With A Judgment Using A Corona Bankruptcy Expert

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A Corona bankruptcy expert can help you if you are facing a lawsuit or judgment. Knowing what to do if a creditor decides to file a lawsuit against you for an unpaid debt is sometimes a scary proposition. It doesn’t matter if the debtor has already had a case filed against them, or a creditor is threatening to do so, or there is already a judgment, in all of these cases bankruptcy can help.

First and foremost, you should know that you should definitely fight a lawsuit, even if you think you owe the creditor. Sometimes the amount you actually owe may be much lower that what the creditor says. Sometimes the creditor won’t be able to even prove you owe the debt which they are required to do if you fight. When creditors cannot prove the debts, they get thrown out of court. Debt reduction is a real possibility even if the creditor manages to prove it is indeed your debt. When people choose not to fight, judges have to enter a default judgment that the debtor owes the money and has to repay it.

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If you own any real property, a judgment can become a lien against your property. The creditor can even take part of your wages in addition to any bank accounts you have and property. A lien on any property you own will keep you from selling it until the entire amount you owe under the judgment is paid to the creditor. Even after the creditor has gotten a judgment for the debt, they can still report late payments on your credit as well as add interest. To keep your rights, a Corona bankruptcy expert can be the best help you can find to keep your rights and property. Bankruptcy is often times the best relief for people who are facing a lawsuit or already have a judgment against them.

When you file for bankruptcy, any and all legal activities against you or your property will automatically stop. If there is a pending lawsuit from a creditor, the creditor is required to stop all action on it. If the creditor’s lawsuit was for unsecured debts like credit cards and medical bills, filing for chapter 7 can sometimes totally get rid of it. With a chapter 13 filing, you cannot automatically get rid of unsecured debt (it must be paid with whatever you have available) but sometimes it can be reduced a lot, and no matter what the creditor has to stop all legal filings. Over-limit fees and other penalties stop as soon as you file for bankruptcy, as does interest. Even if the creditor has already gotten a a judgment against you, the debt will be treated as a secured debt and there are still options that could potentially wipe out the debt completely. However, for the best information about your individual financial situation, talking to a Riverside bankruptcy specialist is the best idea.

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Having a lawsuit pending or filed against you can be extremely upsetting and you may not know what to do. To recover from a lawsuit, a Corona bankruptcy expert can help you explore the options available to you so that you can recover. To get the best results, don’t wait or do nothing, consult an expert who can help you through the legal system.

If you want to look for useful tips on how to have a financial freedom visit Corona Bankruptcy you can also check San Bernadino Bankruptcy.

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