Legal Question in Credit and Debt Law in Wisconsin

I owe 2,000 dollar loan which I was paying faithfully until my monthly fixed income changed drastically, now I'm 2 months behind and legal actions are oming. What should I expect


Asked on 9/25/12, 11:29 am

1 Answer from Attorneys

JAY Nixon nixon law offices

Unless you file bankruptcy or successfully dispute the lawsuit in court, this creditor is soon likely to have a legal judgment against you. If you do not stand up for your constitutional right to file bankruptcy or otherwise protect yourself, a judgment generally gives the creditor the right to garnishee 25% of wages or seize other assets which you fail to protect, including your home if you own one, vehicles or anything else of value. You could also potentially face contempt of court and jail if you do not cooperate with the post judgment asset discovery/interrogation process. You therefore owe it to yourself to immediately schedule an appointment with an experienced bankruptcy attorney. These comments are for public education only, do not make me your attorney, and may not apply to your case, but you are welcome to contact me with further questions at my Racine, WI office at 262-633-3090, or email me at [email protected]. See me on the web at www.jayknixonlaw.com. Also see over fifteen hundred of my past answers arranged by topic at http://www.lawguru.com/answers/search/attorney/jknixon. Web forum answers may contain attorney advertising materials.

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Answered on 9/26/12, 8:46 am


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