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Bank Garnishments and Additional Interest

When you find yourself in court and being faced with a judgment, it could be just the beginning of a bigger financial mess. The court may enforce money judgments by allowing your bank account to be garnished. This means whatever money you make, they will take up to 25% each time you are paid until the debt is paid in full.

The court can even go as far as putting a lien on your house or seizing assets to collect debt. In this case, you will be given a few days to complete a form with a list of your assets on it. If you own a house, a car, a boat and so on, they can use whatever you own to get their money. If the form is not filled out and submitted you could be held in contempt of court and a bench warrant could be issued for your arrest.

A creditor can also ask the court for interest to be paid on the sum of money owed. If you are already in over your head with debt, you most definitely do not want to add to it. The amount of interest is up to the court to decide. This can add a great deal of further financial burden.

At Cain and Daniels we step in before you ever see the inside of a courtroom. We are able to negotiate with creditors and help you to get back on track and making payments before any assets are compromised or any extra interests are added to your debt margin. You will know the terms of your agreement before you hire us, that way you will feel completely comfortable moving forward. Don’t let debt control you, get out ahead of it and get it settled with Cain and Daniels.

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