This is a more aggressive form of debt relief whereby high credit card debts, typically more than $10,000 may be settled or “forgiven” by credit card companies for much less than the full amount owed. Typically credit card settlement programs can save between 40%-60% or even more of your debt, depending on the credit cards you hold, the amount of debt you owe, and your financial circumstances.
In the case of a credit card settlement, our firm will assess your financial health and draft a strategy to address your unpaid and overdue debts and decide on a settlement debt plan to avoid a bankruptcy filing.
A judgment is a court order to pay a certain amount of money to someone who has filed a lawsuit against you. If a creditor, lender, debt collector, attorney, or some other party files a lawsuit against you and wins, a judgment is made against you. You should always respond to the lawsuit to avoid a default judgment. The judgment goes on your credit report and stays seven years from the date the lawsuit was filed. Judgments can result in garnished wages.
A wage garnishment is a court order for an employer to withhold a certain amount of your wages as repayment for debt. This debt can include credit card debt, pay back loans, back taxes, student loans and back child support. Some such garnishments are limited by federal law up to 25% of the disposable income that the employee earns. Garnishments continue until the debt is paid or arrangements are made to pay off the debt.
Furthermore, No one can garnish your wages without first filing a lawsuit against you and then winning the lawsuit. If a lawsuit is filed against you and you don't show up to court, there's a greater likelihood that your wages will be garnished.
Call Us at 407.556.7589