Debtors in California Being Offered Greater Protection
As financial analysts began to turn their attention recently to continued increases in household debt—and ascending numbers in delinquencies, charge-offs, and defaults—the world was suddenly thrown into a tailspin. Suddenly a little credit card debt, being a month late on the mortgage, and worries about that car being repossessed are highly diminished in the face of no job and no current prospects for bringing in funds aside from the $1,200 stimulus check from the government which may or may not have arrived, depending on what information the IRS had for mailing procedures.
One of the greatest stressors that accompanies debt is having to deal with the unknown. That became greatly exaggerated though with a sudden pandemic that thrust so many of us inside the four walls of our homes, daily lives completely transformed, and for many just a gaping hole left in the day where work once took up substantial hours, effort, and maybe presented challenges and exhaustion—but also productivity and a sense of fulfillment.
Currently, many questions still loom regarding how millions of previously employed will now make ends meet. In the meantime, states like California have taken matters further into their own hands for concerned citizens, offering greater protection for debtors and orders allowing suspension on payments of debts.
This could help you considerably if you have been burdened by any type of debt, and especially student loan debt too. if you are in the process of being sued by a creditor or debt collection agency, consult with an attorney as soon as possible. Although this may be a difficult time, take advantage of what may be a more relaxed schedule so that you can get your finances in order for the future, answering to any collection lawsuits or dealing with default judgments that may have been recently granted. While you may see yourself as judgment proof currently (with no job, property, or perhaps not even a checking account), consider how your life could change in the next ten years—and then ten years after that if the judgment were extended.
Contact Fitzgerald & Campbell, APLC now. Our attorneys have decades of experience in serving clients as they navigate through challenging financial situations, to include collection lawsuits, default judgments, and more. Let us review your case and discuss what would work best for you. We are here to help! Click here to schedule a free 30-minute consultation, or call us at (855) 709-5788, or email us at firstname.lastname@example.org.