What Happens if You Ignore Debt Collectors?

If you’re like most people, the current high prices of gas, food, rent, and just about everything else is stretching your budget to the breaking point. If they are not doing so already, your creditors are ramping up their collection activity and you just want to make the calls stop. They won’t, and unless you take action your debt will continue to grow and continue to haunt you long after active collection efforts die off.

If Inflation Has Burst Your Budget – You need to Put a Plan in Place Now

Inflations and rising interest rates will continue for quite some. No one knows when prices for your daily necessities of food, shelter, and fuel will subside, or, how high your credit card interest rates will rise. What we do know, is that if you have more month left at the end of the money or are getting pay-day loans or cash advances in the short term you need to call our team of experienced debt relief attorneys to make a plan.

Doing Nothing in the Short Term Will Be Devastating in the Long Run

The bad news is that dodging collection calls generally doesn’t work. You may be able to ignore the problem for a time, but it won’t go away on its own. Piling up collection notices unopened and rejecting calls can make a bad situation much worse. And, it can rob you of the chance to resolve debt and leave your financial stress behind.

Generally speaking, negative information such as late or missed payments, accounts that have been sent to collection agencies or accounts not being paid as agreed, stay on credit reports for approximately seven years. That means unpaid credit card debt, medical debt, and other consumer debts may continue to haunt you long after active collection efforts die off. Those old debts can keep you trapped by creating financial obstacles and making debt more expensive.

The bad news is that dodging collection calls generally doesn’t work. You may be able to ignore the problem for a time, but it won’t go away on its own. Piling up collection notices unopened and rejecting calls can worsen a bad situation. And, it can rob you of the chance to resolve debt and leave your financial stress behind.

It’s also important to note that some creditors can garnish wages and seize certain assets without filing a lawsuit and getting a judgment. One of the most common examples is the collection of federally guaranteed student loans. The government can garnish wages, attach bank accounts, and seize tax refunds to collect on student loans in default, even without going to court.

Fortunately, you have options for taking charge of your debt and rebuilding financial security.

Take charge and find out the options open for you. An experienced bankruptcy lawyer, like the ones at the Bond & Botes Law Offices, will walk you through all of your options. When you retain us:

• You can tell the collectors that you are represented by an attorney and to talk to them
• You can put a plan in place that reorganizes your debt payments to something more manageable
• You can protect your home and vehicle before foreclosure or repossession
• You can end the loss of income from wage garnishment
• You can pick up the phone again

Contact the Bond & Botes Law Offices

Call 1-877-581-3396 and start getting your life under control.

If you are dealing with debt you have no hope of paying, you owe it to yourself to get the facts about bankruptcy. Your Bond & Botes attorney will listen carefully and explain how bankruptcy would affect your unique situation. The initial consultation is FREE.