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| Filing for bankruptcy is not the onIy solution for the distressed debtor. We will check to determine what is best for our clients and act accordingly. For example, assets jointly owned with third parties may be at risk in a bankruptcy.
If other means are more suitable, our firm will negotiate substantial reductions in indebtedness. While this procedure is more time consuming and more expensive than a simple Chapter 7 bankruptcy, under the right circumstances it is a highly satisfactory alternative. One creditor action that a bankruptcy may not always be ready to forestall is foreclosure on real estate. The firm provides an excellent range of services to assist homeowners in establishing and defending, their rights. Furthermore, since credit reports can become a problem, our firm provides services to improve creditor reports, to the extent that the law allows, and will also provide a strategy for restoration of credit. Because our clients' extreme financial distress often makes them defenseless, they can become easy prey for banks, insurance companies and credit reporting agencies. Our firm will provide strong protection whether this is based on the Fair Debt Collection Practices Act (in the case of creditor collection abuses), or the behavior of banks, credit card companies, financial companies or taxing authorities. State Law Remedies State law Section 5240, together with limits on the extent of garnishment and the reluctance of the courts to enforce judgments, provide important alternatives for distressed debtors, particularly where the debtor client is judgment proof. |
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