Bankruptcy Stops Wage Garnishment, Levies and Repossession

Stop wage garnishment today. Filing for bankruptcy eliminates debts or allows you to repay creditors over time. Meanwhile, it also brings creditor actions to a halt and keeps creditors at bay indefinitely while you are under the protection of the U.S. Bankruptcy Court. This includes any attempt at wage garnishment or to seize your property as collateral on a loan or to recover payment by dipping into your paychecks or bank accounts.

The wage garnishment defense attorneys of Stamatakis +Thalji + Bonanno will aggressively work to prevent wage garnishment or enforce your bankruptcy rights and help you take maximum advantage of the provisions of bankruptcy. Our Tampa attorneys handle wage garnishment defense as well as Chapter 7, Chapter 13 and Chapter 11 bankruptcies in Hillsborough, Pinellas and Pasco counties and beyond in the state of Florida. Contact us today for a free wage garnishment consultation.

Stop Creditor Actions: Tampa Wage Garnishment Attorneys

Filing for bankruptcy immediately invokes legal protection called an automatic stay. As of the day your petition is filed, creditors can no longer initiate legal action against you to collect on debts or continue with wage garnishment. Furthermore, the automatic stay requires creditors or their third-party agents to halt any actions already in progress:

  • Foreclosure— Bankruptcy stops foreclosure, even if the sheriff’s sale date is already set. We can explain your options to refinance, repay the arrears or get out from under the property.
  • Judgment and levy— If a creditor has obtained a deficiency judgment against you to collect on a debt, bankruptcy prevents the creditor from filing or further pursuing levies against real estate, cars, stock, a closely held business or other personal property.
  • Replevin and repossession— Creditors have the right to repossess property bought on credit or collateral put up as a security interest on a loan, including vehicles, boats, trailers, furniture or TVs. Bankruptcy prevents repossession.
  • Wage garnishment— If you have defaulted on a loan or otherwise reneged on a financial obligation, creditors can compel your employer to take a substantial chunk of your paycheck. Bankruptcy prevents or stops garnishment of wages.
  • Bank garnishment— Creditors can obtain a judgment to levy your bank account. Bankruptcy will preclude or override such a judgment.

Beyond the immediate relief of the automatic stay, the many benefits of bankruptcy include the possibility of discharging the debt in question or refinancing the debt. For example, it may be possible to strip a lien against your home such as a second mortgage. If you owe more than your car is worth, the “cramdown” provision of Chapter 13 bankruptcy may allow you to reduce your payments and/or shorten the car loan.

Tampa Repossession Attorneys

Our experienced bankruptcy lawyers can take swift action on your behalf and aggressively deal with any creditors who are trying to take your property or get at your money. The auto industry is notorious for trying to repossess after missing just one car payment and for failing to obtain a repossession order from the court before sending out the repo squad.

Smaller lenders and credit unions are less willing to negotiate a workout and more likely to pursue foreclosure and deficiency judgments. They will pursue every dime, whereas larger banks and mortgage companies may be more open to writing off some of the debt.

We also address the issue of cross-collateralized loans. Many times credit cards are secured by a vehicle without the debtor’s knowledge — until the creditor tries to invoke the fine print.

President Obama and the U.S. Congress has designated our offices a Federal Debt Relief Agency because we help people file for bankruptcy. See our frequently asked questions and bankruptcy timeline pages for more background about the pros, cons and applications of bankruptcy. To discuss your specific circumstances and all the ways Stamatakis + Thalji + Bonanno can help, call us at 866-479-6946 or contact us online.