Legal Question in Credit and Debt Law in Minnesota
I need to know how long I have.
In an attempt to keep this short, I will give the sort version:
In May of '04, I stopped paying my credit cards. I couldn't make the payments and have been treading water. I just started a new job with a decent increase in pay and want to begin rebuilding my life. My question pertains to how long do I have before they start proceedings on me to garnish my wages and such. I need a little time to see if I can put the money together or decide if bankruptcy is the answer. It is possible that I will be able to get the amount in full but am continuing to research my options in case that falls through. If you need more information, please let me know. Thanks in advance.
1 Answer from Attorneys
Re: I need to know how long I have.
As an alternative to bankruptcy, I have helped a number of clients with their credit card debt by proposing a private workout proposal, where they pay a percentage of their balances as settlement in full of their amounts due.Creditors find it preferable to the amount they would get in bankruptcy and the account holder obtains settlement at a large discount without a bankruptcy on their record.
Call me to discuss further.
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