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Unlike most bankruptcy firms in the Dallas / Fort-Worth area, Allmand Law Firm, PLLC spends the time to understand the complete financial picture for every one of our clients. We provide resources, tools and advice to address the unique needs of North Texans.

Can I Avoid Getting Sued by Filing Bankruptcy?

Posted By admin || 1-Feb-2012

Can I Avoid Getting Sued by Filing Bankruptcy?How to Avoid Getting Sued

There are different options available that may help you avoid getting sued but if often depends on your personal situation. If you are able to make payments you may consider debt consolidation, debt settlement or work out an agreement with your creditor that allows you to make smaller payments that may be less than the minimum amount to keep the account in good standing.

Filing Bankruptcy May Be the Solution

Going a certain period without making payment on an outstanding account may increase your chances of getting sued. Your account may get forwarded to a debt collector who may decide to file suit for what is owed. If you have been unable to make payment on several accounts including credit cards, medical bills and other outstanding debt, bankruptcy could be a solution to help improve your situation.

The option to file bankruptcy is often a last resort but if you find yourself being harassed by debt collectors or you receive a summons learning you are being sued, filing bankruptcy may be your best option. Filing can help you gain control of your finances especially if you haven't been able to make payments on debt obligations.

Upon filing for bankruptcy an automatic stay goes into effect. When you file, creditors receive notification of your filing and this prevents further collection action. Some creditors may continue to try to collect when you file and should be reported to your bankruptcy attorney immediately as it is illegal.

Considering Bankruptcy? Let us See If Bankruptcy is Right For You

If you are considering bankruptcy but not sure it is right for you, you can always contact us to set up a free consultation. We are always here to help you.

Categories: Bankruptcy
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