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Teague & Associates, LLC
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Florissant, MO 63031
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Archive: Oct 2017

  1. Start Now to Stop Repossession with a Bankruptcy Lawyer in Florissant

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    https://www.teaguelawassociates.com/why-it-is-important-to-stop-repossession-with-bankruptcy-attorney-in-florissant/

    Repossession is something that no one wants to experience. The best way to deal with this situation is to stop it before it escalates. A repo can remain on your credit report for 7 years and negatively affect future purchases. If you have the potential to be faced with a repo of your vehicle, take steps now to stop repossession with a bankruptcy lawyer in Florissant.

    If you have never missed a payment, repossession may not commence immediately, but if you have had past due payments before, a repo can happen quickly. Sometimes an agreement can be worked out with the lender, in advance, if you expect to be late with a payment. Note that if you have been granted a 30-day extension that payment is due 30 days from the original payment due date.

    The repo man, or repossession agent, is a professional who knows the most effective way to take your vehicle. He will take the auto to the impound lot. This allows you the opportunity to bring all payments up to date or completely pay off the loan. If you are unable to make your account current, the lender will sell your car at auction.

    If you feel that repossession is virtually inevitable, it is smart to remove your individual property from the car, including after-market equipment. Remember, surrendering your vehicle does not solve the problem, as you will still owe the balance due.

    To solve a nonpayment issue before it snowballs, stop repossession with a bankruptcy lawyer in Florissant by consulting Teague & Associates, LLC. Call or text to schedule your appointment at (314)899-4499.

  2. Consider Bankruptcy Options with a Chapter 7 Bankruptcy Lawyer in St. Louis

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    Chapter 7 Bankruptcy Lawyer in St. Louis

    It can, unfortunately, be quite easy to accumulate debts beyond your ability to pay. Credit card accessibility and unanticipated medical expenses are two major causes of this problem, as well as job and income loss or a disastrous business endeavor. When bills become too overwhelming, it may be in your best interest to seek guidance from a Chapter 7 bankruptcy lawyer in St. Louis. 

    If it is prudent for you to file Chapter 7 bankruptcy, you must meet the following conditions:

    • Chapter 13 bankruptcy is not a viable option for your circumstances. The decision to file Chapter 13 is reserved for individuals with higher earnings, secured debts or a mortgage, and who are able to establish an acceptable repayment strategy with the cooperation of the debtors involved.
    • You have limited or no resources or protected debts. Some exemptions are available for property that you can retain, including personal possessions, apparel, household items and some money.
    • You have qualified debts that can be discharged.
    • You want to relieve yourself from debt issues relatively quickly. The Chapter 13 process can last 3-5 years, while Chapter 7 can often be finalized within several months.

    Bankruptcy as a solution for debt relief can be a difficult decision to make, but, with the proper direction, it can be conducted with expertise and veracity. If you are undecided about your options for bankruptcy or a different solution to excessive debt, call Teague & Associates, LLC to make an appointment for a no-obligation consultation. Discuss your situation with a Chapter 7 bankruptcy lawyer in St. Louis by calling or texting (314)899-4499.

  3. Stop Garnishment with a Bankruptcy Lawyer in St. Charles

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    stop garnishment with a bankruptcy lawyer in St. Charles

    There are few legal issues so frightening as garnishing of wages. A garnishment occurs when a third party or garnishee has control of money that is owed a debtor and must pay some of the funds to the debtor’s creditors to satisfy a legal debt. A garnishee may be an employer, bank or pension plan. When the garnishee is the debtor’s employer, the process is known as wage garnishment and the money paid to creditors is the salary or wages. To learn more about your options in this difficult situation, stop garnishment with a bankruptcy lawyer in St. Charles.

    A court order is necessary for your wages to be garnished. Garnishment, with few exceptions, is only issued to impose a judgment from the court. A judgment results from a lawsuit and is the court determination in the case. A monetary judgment is a determination by the court that one party owes money to another party. A creditor who can seek garnishment has a monetary judgment in his favor. The most popular garnishments include: credit card bills, taxes, alimony, child support and medical bills, but garnishment is possible for any legal debt.

    There are some types of income that are exempt from garnishment. These may be social security, retirement and pension benefits, public assistance or benefits like unemployment and veteran’s benefits, annuities and insurance (except life insurance) and alimony or support to a certain degree.

    To stop garnishment with a bankruptcy lawyer in St. Charles, call the legal team at Teague & Associates, LLC, at (314)899-4499.

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