Taking Action Quickly Can Avoid Unnecessary Stress And Expense
In most Chapter 7 and Chapter 13 cases, we can avoid judgment liens that have been placed on homes or cars after a judgment has been taken against you. Filing for bankruptcy sooner rather than later can help you avoid unnecessary expense and credit damage associated with judgment liens. Unfortunately, many people wait longer than they should before consulting with our experienced bankruptcy attorneys.
If you have a judgment taken against you, you will notice that after only a matter of months the amount of the judgment is higher than it was at the date that it was taken. It certainly doesn’t seem fair, but there is a reason.
The reason for that phenomenon is because interest does not stop mounting on the date of the judgment. It continues to accrue, and the amount of the judgment lien will continue to grow after the judgment is taken. This can lead to a downward spiral and make an already difficult situation much worse.
However, when you file bankruptcy, the entire amount of the judgment should be discharged. The lien is avoided in almost all cases. If you have a judgment lien against you or if you are struggling with overwhelming debt, we encourage you not to wait. Things will not get better until you take action and seek the help you need.
Contact Pelley Law Office, L.L.P., Today
We invite you to call us at 972-608-0335 to schedule a free confidential consultation with an experienced bankruptcy lawyer. You can also contact us by email now to request an appointment to discuss your options. You will be under no obligation to hire us. We look forward to speaking with you and explaining how we can help.