What Are Delinquent Accounts & How To Handle Them
Bankruptcy Attorney Serving Phoenix
About Delinquent and Past Due Accounts
If you are currently struggling with an overwhelming burden of debt, including secured and unsecured debt, you may want to consider bankruptcy or debt settlement as an option. In many cases involving large amounts of debt, a person will have one or more delinquent accounts. Delinquent accounts, often referred to as past due accounts, are a serious financial matter that must be dealt with accordingly. First, you should not keep quiet about your financial situation; talking to a Phoenix bankruptcy lawyer should be your main priority. You may owe money to the IRS, which can lead to serious criminal consequences if it is not handled properly. Additionally, you may have foreclosure proceedings taking place regarding your home due to past due mortgage payments.
Delinquent accounts are often the first sign of bankruptcy or foreclosure. If you have any accounts that are past due, you may already be experiencing the abusive nuisance of debt collectors. It is important to understand your rights in a situation such as this, especially because these debt collectors may be breaching your rights under the Fair Debt Collection Practices Act. Securing the legal resources of an attorney will immediately put an end to any of this abusive behavior by collections agencies.
How to Handle a Delinquent Account in Phoenix
Need a lawyer for your delinquent accounts in Phoenix? If you have defaulted on a loan, depending on the conditions of the loan itself, the creditor may have an opportunity to place liens on your property, including your home or vehicle. It is important to either pay off these debts or seek legal assistance before the collectors take legal action and repossess your property. There are many options to resolve matters related to delinquent accounts, including Chapter 7 and Chapter 13 bankruptcy. With help from a Phoenix bankruptcy lawyer from our office, you will be able to stand up to the delinquent account and find the resources to turn your financial situation around.
Contact a Phoenix bankruptcy attorney from Oswalt Law Group to learn more about taking legal action for your delinquent account.