Google-Translate-English to Spanish
Home
Frequently Asked Questions
General

What if I feel that I cannot afford an attorney?

This is probably one of the most common questions of debt settlement and bankruptcy clients. Unfortunately, like so many other legal questions, the answer is generally, “It depends.” Your credit score, also termed “FICO,” is a complicated factoring of your general lending and repayment habits, which is compiled and often sold by the major credit reporting agencies. Credit score takes into account many variables over many years, such as how many times you’ve applied for credit, how quickly those accounts have been paid off, and of course any delinquent or defaulted loans. Other factors come into play also, like what percent of credit extended to you you have actually used (how close you have come to your limit) and whether you make only minimum required payments. Most credit defects however, such as bankruptcy or foreclosure, will eventually be cured with time as you stay current on new accounts and are able to demonstrate to lenders that you are a responsible borrower.
ADRN believes that financial constraints should never bar a person from obtaining competent legal advice, and that it is our duty as attorneys to “find a way to yes” for each prospective client. We have a variety of rate and billing structures, often custom-tailored to the client who is unable to pay all at once. Depending on your case, certain hourly or flat billing rates or retainers can be divided into multiple payments as your case progresses. At ADRN we realize that clients come to us because of financial hardship, and we devise our fee structures accordingly.

What should I expect when meeting with an attorney for the first time?

Depending on the complexity of your case, an initial consultation with an attorney can take anywhere from 45 minutes to a few hours. During this time, your attorney will ask you questions about your financial and income history, and inquire as to any relevant personal hardships you may have experienced recently (such as loss of a job, recent illness, etc.). All consultations are strictly confidential and protected by attorney-client privilege, and none of the information collected will ever be disclosed to any third parties without your consent. When initially setting up your consultation, a legal assistant may ask you to bring in certain documents, such as tax returns, pay stubs, letters from collections agencies, or mortgage statements. These documents will be used to gather complete picture of your financial reality, and will only be used for the purposes of handling your case competently and effectively.

When should I seek help with my debts; how bad does it need to get for me to consult with an attorney?

There is no one-size-fits-all solution to a person’s money problems. However, the minute you feel overwhelmed by your debts or like you are running out of options, it may be a good idea to meet with an expert. There are options out there that most people do not even know about, and meeting with a qualified professional will usually provide some much needed relief to worries about money and debts. Many people often feel too embarrassed to ask for help, without realizing that millions of others have gone through the same situation. At ADRN we try to emphasize that when things get tough and bills get overwhelming, asking for help is often the first step in what ends up to be a straightforward and relieving financial recovery. We are dedicated to providing our clients with options. You have questions; we have the answers. Our goal is to work hard for you and “find a way to yes.”

Do people ever get sent to prison for not paying their debts on time?

This is probably one of the most common questions of debt settlement and bankruptcy clients. Unfortunately, like so many other legal questions, the answer is generally, “It depends.” Your credit score, also termed “FICO,” is a complicated factoring of your general lending and repayment habits, which is compiled and often sold by the major credit reporting agencies. Credit score takes into account many variables over many years, such as how many times you’ve applied for credit, how quickly those accounts have been paid off, and of course any delinquent or defaulted loans. Other factors come into play also, like what percent of credit extended to you you have actually used (how close you have come to your limit) and whether you make only minimum required payments. Most credit defects however, such as bankruptcy or foreclosure, will eventually be cured with time as you stay current on new accounts and are able to demonstrate to lenders that you are a responsible borrower.
No. In the United States, a person cannot be civilly or criminally imprisoned for failing to meet obligations under a consumer loan contract. Imprisonment for debt was abolished by the federal government in 1833, and in the states soon thereafter.

Can ADRN end creditor harassment and put a stop to the endless phone calls, letters, and emails I'm getting at home and at work?

Usually, yes. After you have retained ADRN to represent you, creditors and collectors will generally be barred from having future direct contact with you. Under the law, once you have retained an attorney, lawyers from credit cards, foreclosure lawsuits, and most other types of collections organizations are prohibited from contacting you directly, and may only telephone, mail, and email your attorney who is authorized to act on your behalf and in your interest.

How long does a discharge in bankruptcy usually take?

The length of a bankruptcy discharge varies by the type and complexity of the case, and which chapter of the Bankruptcy Code you and your attorney have decided to pursue. Generally speaking, after the bankruptcy petition is filed, the court will generally issue a discharge of debts 60 to 90 days after the meeting of the creditors.

Will I lose my home/car/or other assets if my attorney and I decide bankruptcy is the best option for me?

Again, it depends on your situation. The majority of our bankruptcy clients are able to keep many of their assets, because under federal and state law, certain property and asset exemptions often apply (see our “bankruptcy” section for more info). Your attorney will advise you as to the likelihood of any possible liquidation, and the decision of whether or not to proceed will always be up to you. Our goal is always to provide as much debt relief as the law will permit, while still allowing the client to keep as many of her assets as possible intact.

I've been served with a foreclosure or other court summons. Do I need to appear in court?

Once you have retained us, you should always forward all relevant legal and collections communications to your ADRN attorney, including all summonses to go to court. Generally speaking, in many types of cases, once you have retained an attorney, he is able to appear in court on your behalf, thereby avoiding you having to spend the day in a courtroom waiting for your case to be called. As long as you are diligent in staying in contact with your attorney regarding the facts of your matter, ADRN will be able to minimize your level of personal involvement in the debt relief process. Part of what we do is relieve you of the burden of dealing with creditors and their lawyers directly, thereby allowing you to focus your energy back where it belongs: on preparing for life after debt.

How will my credit and FICO score be affected by bankruptcy/foreclosure/debt settlement, etc.?

This is probably one of the most common questions of debt settlement and bankruptcy clients. Unfortunately, like so many other legal questions, the answer is generally, “It depends.” Your credit score, also termed “FICO,” is a complicated factoring of your general lending and repayment habits, which is compiled and often sold by the major credit reporting agencies. Credit score takes into account many variables over many years, such as how many times you’ve applied for credit, how quickly those accounts have been paid off, and of course any delinquent or defaulted loans. Other factors come into play also, like what percent of credit extended to you you have actually used (how close you have come to your limit) and whether you make only minimum required payments. Most credit defects however, such as bankruptcy or foreclosure, will eventually be cured with time as you stay current on new accounts and are able to demonstrate to lenders that you are a responsible borrower.
This is probably one of the most common questions of debt settlement and bankruptcy clients. Unfortunately, like so many other legal questions, the answer is generally, “It depends.” Your credit score, also termed “FICO,” is a complicated factoring of your general lending and repayment habits, which is compiled and often sold by the major credit reporting agencies. Credit score takes into account many variables over many years, such as how many times you’ve applied for credit, how quickly those accounts have been paid off, and of course any delinquent or defaulted loans. Other factors come into play also, like what percent of credit extended to you you have actually used (how close you have come to your limit) and whether you make only minimum required payments. Most credit defects however, such as bankruptcy or foreclosure, will eventually be cured with time as you stay current on new accounts and are able to demonstrate to lenders that you are a responsible borrower.

Copyright © 2012. ADRN. | Legal Disclaimer | Privacy Policy