Protect Your $1,200 from Creditor Collection

Wasson and ThornhillCreditor Lawsuits, Financial Crisis

Your $1,200 pandemic relief payment from the IRS is subject to creditor collection, if you have a garnishment order on your bank account. Our blog post four weeks ago was about the $1,200 pandemic relief payments going out to most U.S. adults. The CARES Act explicitly protected these payments from seizure for certain governmental debts. Generally, the payments can’t be … Read More

Protect Your Home from Judgment Liens

Wasson and ThornhillCreditor Lawsuits

Bankruptcy can protect your home from judgment liens. It can stop a lawsuit from becoming a judgment, and then a judgment lien.   Judgment Liens Are Dangerous Our last blog post was about how filing bankruptcy can sometimes remove, or “avoid,” a judgment lien from your home. This is a great potential benefit of bankruptcy if a judgment lien has … Read More

Remove a Judgment Lien from Your Home

Wasson and ThornhillCreditor Lawsuits

One great benefit of bankruptcy is the ability to remove a judgment lien from your home. It’s almost as helpful as writing off that debt.   The Problem, and the Bankruptcy Solution Do you have a judgment lien on your home? If so, the debt on that judgment is secured by whatever equity you have in your home. The debt … Read More

Unexpected Benefit: Stop Collection on an Allegedly Fraudulent Debt

Wasson and ThornhillDischarge of Debts

You’re not likely to be accused of creating a fraudulent debt. But if so, bankruptcy can stop its collection. And resolve the problem.   Most Debts are Discharged (Permanently Written Off) in Bankruptcy The federal Bankruptcy Code has a list of the kinds of debts that filing bankruptcy does not discharge. This list details the conditions under which discharge does … Read More

Unexpected Benefit: Remove a Judgment Lien from the Title to Your Home

Wasson and ThornhillCreditor Lawsuits

Usually you can’t change a secured debt into an unsecured one, even in bankruptcy.  But you often CAN remove a judgment lien from your home.   We’re on a series of blog posts about the powerful but less obvious benefits of bankruptcy. Bankruptcy can do much more than just give you immediate and long-term relief from your debts. Today we … Read More

Avoiding Wage Garnishment by Filing Bankruptcy

Wasson and ThornhillAutomatic Stay

Filing bankruptcy avoids a wage garnishment from hitting your paycheck. Bankruptcy prevents a garnishment as long as it is filed fast enough.   Last time we got into how hiring a Louisville bankruptcy lawyer can stop a creditor from suing you. Sometimes it can also stop a creditor which has already sued from getting a judgment against you. But these … Read More

A Bankruptcy Lawyer Can Give You Immediate Relief

Wasson and ThornhillBankruptcy Advice

Hiring a bankruptcy lawyer can buy you some immediate relief from your creditors, and prevent some crucial irreparable financial harm.   What relief can you get when you get a bankruptcy lawyer? Relief After vs. Before Filing Bankruptcy The moment you file a bankruptcy case, all or most of your creditors must legally stop collecting their debts. The law that accomplishes this is called … Read More

Unsecured Debts

Wasson and ThornhillBankruptcy Advice

Unsecured debts are not legally attached to anything you own. They have no security. Certain special unsecured debts are “priority” debts.   Unsecured Debts Debts that are unsecured are those which are not legally tied to anything you own. The creditor has no “security” attached to the debt, no “security interest” in anything. It has no right to repossess or … Read More