Legal Question in Credit and Debt Law in Pennsylvania

debt solution, self imposed lien

I currently have a mountain of debt and unable to pay due to my income.live in apt. and have enough just to support basic living expenses. creditors are calling me at work looking for payments. have explored using bankruptcy as getting out, but would like to do this if it is legally possible...would like to make agreement with each creditor to put a self-imposed lien on my future inheritance money I should get sometime in the future...is this legally possible and is there any precident(SP?) for this??


Asked on 10/22/06, 6:30 pm

1 Answer from Attorneys
Roger Traversa Arjont Group (Law Office of Roger Traversa)

Re: debt solution, self imposed lien

You asked about using a self imposed lien to reolve credit issues.

Unless the inheritance is due currently or will be due in the next 8 months then go back to your first option. No creditor will accept the solution you propose. Even so, you should consider BK to minimize your debt. The damage to your credit from a BK is much less than ongoing past due payments.

If you are getting harrassed by your creditors it is VERY easy to stop. I can help or you can do the work yourself. In some cases you can even make money from it and have them pay your legal fees when they violate the law.

Regards,

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Answered on 10/23/06, 10:45 am


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