Online payday loans

Here is a question that was recently asked:

Hello! I'm currently using a consumer law firm outside my state to settle multiple online payday loans I made several months ago. They are taking over $500 a month that goes to a dedicated account set up but they don't really try to tell me where my payments goes to. I won't be able to find out if all my debts were settled up until I finish the 10 month program. Rt. now I'm in a situation that I can't even make the monthly payments anymore. I just need to know if I did the right thing. Is there an alternative solution to my dilemma? Thanks!

In my experience, these types of companies charge too much in fees and take to long. Hence, their clients do not have much success as the first responding attorney noted.

I offer this service to my clients, however, they need to have the money saved up to offer a compromise. Otherwise, I believe that I am doing a disservice to the client. The key to debt settlement is to offer between 15% to 80% of the total value of the debt. If your disciplined enough, cancel your contract and set aside the $500 per month in a bank account. When you reach 50% of the debt level, call the company to offer a payment. Be careful however, they do not have to accept the offer and they have a right to sue you for the full amount, plus interest and maybe attorney fees too.

Too often the clients do not have enough money to "settle" their debt. If the debt is too much, then it is time to start talking about the dreaded "B" word, bankruptcy.

Attorney Ken Jorgensen is located in Clovis, California. He handles personal, property and business disputes, including bankruptcy and eviction cases. You can find out more about Ken on Facebook, or at his websites, www.fresnolawgroup.com and www.fresnobankruptcylawgroup.com. He can be reached at jorgensenlaw@gmail.com or by telephone at 1-559-324-1882.

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Tuesday, 1 October 2013

How To Stop A Wage Garnishment

Ouch! You were just notified from your boss that they are going to garnish your wages. You find a A wage garnishment order was served from court. In California, creditors are allowed to garnish up to 25% of your disposable earnings.

25% of your income is a big chunk of money that you need to run your household. One effective way to stop a garnishment order is to file bankruptcy right away. A bankruptcy order will shut down the garnishment order instantly. You will be able to keep your money.

Filing an emergency bankruptcy case requires a little work. First, you need to pay your bankruptcy attorney and pay the filing fee with court. Right now, a chapter 7 bankruptcy fee is $306. Typically, I charge $1000 per case. If you run a business, and you want to keep it, I typically charge $1600. Thus, you will need approximately $1200 to file bankruptcy.

Second, you need to take the credit counseling class. The class can be taken on the internet. They charge as low as $10 for the class. Afterwards, a certificate is issued that needs to be filed.

Finally, you will need to verify and sign a bankruptcy petition that your attorney prepares. If the case needs to be filed right away, an abbreviated petition can submitted to the court with the promise that the full petition is filed within 14 days.

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