Dealing with debt collector harassment can be incredibly stressful. However, there are ways to protect yourself and put an end to these aggressive tactics. Hiring a bankruptcy attorney is one of the most effective strategies to stop debt collector harassment immediately. Here’s how it works and what your options are. Contact The Law Offices of Paul Y. Lee at 951-755-1000 for a free legal consultation.
The Rise of Debt Collector Lawsuits
In recent years, debt collector lawsuits have gained significant attention. Individuals are increasingly fighting back against unethical debt collectors, filing lawsuits against banks, credit card companies, and third-party debt collection agencies. Some of the most shocking breaches include:
- Illegal Interest Rates: Charging exorbitant interest rates of up to 21.75%.
- Collecting Paid Debts: Attempting to collect debts that have already been settled.
- Harassment: Making harassing phone calls at all hours and notifying friends, family, and employers about the debts.
Legal Protection Against Harassment
While filing a lawsuit is one way to combat harassment, hiring a bankruptcy attorney can offer immediate relief. Under the Fair Debt Collection Practices Act (FDCPA), once you inform debt collectors that you have retained an attorney, they must stop contacting you directly and communicate only with your attorney.
Exploring Your Bankruptcy Options
Hiring a bankruptcy attorney not only stops harassment but also helps you explore debt relief options. Depending on your financial situation, you might consider Chapter 7 or Chapter 13 bankruptcy.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy allows you to eliminate all unsecured debts, including:
- Credit Card Debts
- Medical Bills
- Personal Loans
This option is ideal for those who cannot realistically repay their debts without significant help. While you may need to sacrifice certain non-exempt assets, Chapter 7 provides a fresh financial start.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy involves restructuring your debt, allowing you to catch up on payments over time. This option suits individuals with a steady income who struggle with mounting interest on their debts. Key benefits include:
- Suspension of Interest and Penalties: Interest, late fees, and penalties are suspended during the 3- to 5-year repayment period.
- Retention of Property: You can keep all your property while repaying your debts.
- Debt Discharge: At the end of the repayment period, a significant portion of unsecured debts can be discharged.
Benefits of Hiring a Bankruptcy Attorney
A bankruptcy attorney can help in several ways:
- Immediate Relief: Stops debt collector harassment by handling all communications.
- Expert Guidance: Provides advice on the best bankruptcy option for your situation.
- Legal Representation: Ensures your rights are protected throughout the bankruptcy process.
Contact a Bankruptcy Attorney Today
If you are being harassed by debt collectors and are considering bankruptcy, it’s essential to seek professional legal advice. Contact The Law Offices of Paul Y. Lee at 951-755-1000 for a free consultation. Our experienced attorneys can help you end harassment and explore your options for debt relief. Take the first step towards financial stability today.
