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Credit Card Debt Oldsmar

What can happen to me with a Credit Card Lawsuit in Florida?

1) Cloud title on your homestead property

If you own a home, a judgment can cloud title on your HOMESTEAD. Your homestead is protected from a forced sale by this type of creditor. However, you may have difficulty selling or re-financing your property unless you obtain a full or partial release.

2) Garnish/Freeze/Take your bank account(s)

A creditor can garnish your bank account. This can happen years after the judgment or very soon after the judgment.

3) Seize any “non-exempt” property from you

A judgment creditor can force the sale of any non-exempt property that you own.  Generally they do this with a “writ of execution.”  They send the sheriff or constable out to your property to search for non-exempt property that can be seized.

4) Put the judgment on your credit report for 10 years

A judgment is usually reported as a “public record” on your credit report similar to a Bankruptcy. Often this type of record is very detrimental to a credit report because bad debts are supposed to be removed from your credit report after 7 years from the final payment to the original creditor. A judgment, however, can stay on for 10 years or more.

So what can you do?

1) Fight the Lawsuit

We have been successful in getting hundreds of collection lawsuits dismissed or settled for far less than what they are suing for.  We offer payment plans as described below.

2) Settlement

Our firm may be able to assist in you settling this debt and other debts for a substantial reduction in what is owed. Settlement reduces the risk of going to trial and it may improve your credit rating if the debt is currently reporting as a collection account.

3) Bankruptcy

If you qualify for Bankruptcy, it would stop the lawsuit and most likely discharge all of your credit card debt. This is often the best solution if you anticipate multiple lawsuits on multiple debts.  A chapter 7 Bankruptcy will allow you a fresh start.


Carolyn Secor
 
 

 

The federal government passed new bankruptcy reform legislation in October 2005. However, don't be discouraged! Most studies indicate that the new law affects less than 15% of individuals who could have filed previously. If you are feeling overwhelmed by your debts and considering filing bankruptcy, it is highly probable that you fall into the category of the 85 percent of people who are still eligible to file.

 

 

 

"Serving Pinellas, Pasco, and Hillsborough Counties."

Carolyn Secor, Attorney at Law
Bankruptcy Attorney Tampa Bay Florida
Florida Law Firm with Offices in
Clearwater (Main Office) Tampa St. Petersburg Port Richey
Phone:  1-727-254-1704
www.bankruptcyfortampa.com

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

       
 
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