Do You Have Mounting Debt? Michigan Debt Attorney

Have you been sued on a bank loan, by a medical provider, by a credit card company, or by a former landlord?  Let us help you.  The experienced debt collection attorneys of Garmo & Kiste, PLC now specialize in debt collection defense and bankruptcy work.  In the past, we learned the trade by working for credit card companies and debt collection agencies.  Now, we’ve taken that knowledge and applied it as the foundation for a strong debt collection practice, fighting with diligence and drive to relieve numerous clients of the stress and pressure of this kind of lawsuit. Every year, we handle hundreds of collections and collections defense cases.

For more information or to retain Garmo & Kiste, PLC, call us at (248) 398-7100 or send us a private message for a free consultation.  We are licensed Michigan attorneys with offices in Troy, Brownstown, and Lake Orion, MI.

Our Familiarity with Collections Industry:

Aside from our practical experience in this area, one of the greatest advantages of hiring our firm comes from the professional connections we bring to the process.  In any given case, we typically know the plaintiff, the plaintiff’s attorney, the court, and the presiding judge– all thanks to our past employment.  These relationships mean we know what we’re up against from square one, allowing us to quickly assess the facts of your case and determine the best course of action.  This, in turn, helps us reach the best possible result for you, our client.  Additionally, hiring an attorney who practices in the county where you were sued is particularly helpful– we regularly practice in Oakland, Macomb, Wayne, and Lapeer Counties.  Because we frequently appear in the same courts over and over, we know the ins and outs of fighting this kind of claim.  We know more loopholes than most attorneys, and we can accurately assess the matter and predict an outcome as it progresses through all stages.  Ultimately, this means we know when it’s time to fight and when it’s time to settle, getting you the best results possible.

Michigan Debt Attorney call us at (248) 398-7100 or send us a private message for a free consultation.

Another Reason to be Wary of Bankruptcy…

We advise our clients to avoid filing bankruptcy if at all possible.  While bankruptcy might seem like a quick way to escape mounting financial obligations, it can have many effects on your existing debts, properties, and assets, as well as your financial future.

And for the dishonest, it can also impact your criminal record, as illustrated in the case of a local man now facing up to 20 years in prison and up to a $250,000.00 fine after making fraudulent claims on his bankruptcy filing.  Filing bankruptcy requires disclosure of all of one’s personal property under penalty of perjury, and while it may be easy to think that no one’s paying much attention to whether those claims are accurate, this man learned the hard way when the IRS caught his failure to report luxury cars, jewelry, and cash in his bankruptcy filing.

This just goes to show that, even for people who can perhaps afford their debts, bankruptcy can seem like a miracle cure when the stresses of meeting one’s financial obligations begin to build up.  But the consequences are not all good, especially in a case like this one.  In this economy, a high volume of bankruptcies can make it easy to think that an inaccurate filing might fly easily under the radar.  This local incident serves as a good lesson that this behavior does not go unseen—bankruptcy filings are carefully monitored, and those trying to cheat the system will likely be caught.

If you’re struggling financially and considering bankruptcy, call our office today at (248) 398-7100or send us a private message for a free consultation.  We are licensed Michigan attorneys with offices in Troy, Brownstown, and Lake Orion, MI, and our skilled attorneys can work with you to explore all of your options for taking care of your debts effectively and efficiently, while avoiding the implications of a bankruptcy filing.

Census Bureau Reveals Interesting Debt Statistics

According to a recent report by the Census Bureau, the amount of Americans in debt dropped by five percentage points between the years 2000 and 2011.  After a more-than-difficult latter half of the decade, this decrease (down to 69% from 75%) seems welcome and perhaps a bit surprising. However, there’s a catch.  While the number of Americans in debt decreased, the median debt load for Americans who have it increased, from around $51,000.00 in 2000 to $70,000.00 in 2011.

Much of this trouble lies on the relative ends of the age spectrum– debt owed by seniors doubled, most likely due to their rising housing debt. On the other hand, the biggest dollar increase in debt occurred among 35 to 44 year-olds, owing a median of $108,000.00. And while the number of Americans holding credit cards is down significantly (down to 38% from 51%), those holding other forms of unsecured debt, such as student loans and uninsured medical bills, increased from 11% to 19%, especially among those under 45.

While less Americans are finding themselves in debt today, these numbers make it clear that the stresses of debt aren’t going away any time soon.  More than half of Americans are still in debt, and the amount of that debt is on the rise.  However, it’s not an endless tunnel.  If you have financial obligations that you simply cannot afford—whether you’ve been sued already or not—call us today at (248) 398-7100 or send us a private message for a free consultation.  We are licensed Michigan attorneys with offices in Troy, Brownstown, and Lake Orion, MI, and our expect collection defense and bankruptcy attorneys can work with you and with your creditors to determine the best solution possible and help you move on with your life.

Garnishments and Relief from Garnishments

A garnishment is a way for a plaintiff with a valid money judgment against individual to collect on that judgment.  It does so by ordering a third party (the garnishee) to pay money that would otherwise be owed to the individual directly to the plaintiff. There are three common types of garnishments: (1) Wage Garnishments, (2) Bank Garnishments, and (3) Tax garnishments. Wage garnishments can be a shocking and traumatic event– suddenly 25% of your income disappears. Worse yet, this can be embarrassing and an inconvenience to your employer or others with whom you are dealing. Bank accounts, too, can be taken to help satisfy a money judgment and as such, are likely to be effective against many individual debtors.  Finally, Income Tax Refund Garnishments, as with wage garnishments, can be taken to help satisfy a money judgment by offsetting your debt with your tax refund.

Note that sometimes, garnishments can happen without a court judgment.  This is allowed wen the garnishment is for the purpose of repaying a defaulted student loan, court ordered child support, child support arrears or unpaid taxes. Further, with child support, unpaid student loans, and unpaid taxes, the amount that can be garnished is also different.

While this is an unfavorable situation, there are protections for individuals who have been subjected to a writ of garnishment.  For example, it is illegal in Michigan for an employer to terminate, discipline, or refuse to hire an employee due to wage garnishment.  There is also a cap on the amount of money that can be taken from you.  Typically, the total amount of all garnishments may not exceed 25% of the individual’s income. Similarly, there are also exclusions to the kinds of income that can be subject to a garnishment.  For example, Social Security Income may not be garnished.

If you have been served with a writ of garnishment and object to the writ, we can assist you.  Once a writ of garnishment has been awarded, it is difficult to undo, but not impossible—we have successfully made objections to the courts in the past.  But note, too, that an objection must be based on the one or more of the following:

• the funds or property are exempt from garnishment by law
• garnishment is precluded by the pendency of bankruptcy proceedings
• garnishment is barred by an installment payment order
• garnishment is precluded because the maximum amount permitted by law is being withheld pursuant to a higher priority garnishment or order
• the judgment has been paid
• the garnishment was not properly issued or is otherwise invalid

It also should be noted that in general, your wages, paycheck, or bank account can only be garnished if a judgment is taken against you.  If you are debtor, it is not too late to protest the original debt or other obligation if you were unaware of a judgment or failed to defend a lawsuit in a timely manner.  Violations of these may be grounds to properly objecting to the garnishment.  For example, Social Security Income is exempt from garnishment.  If any of these circumstances apply to you, you should consult with an attorney immediately.

Installment Payment Plans

Have your wages been garnished?  Let us help you get the garnishment removed. If you have a judgment against you, with limited funds to pay it, we can file a motion with the court to put you on a monthly payment, setting up a repay plan that puts you on your terms, not theirs. This also helps avoid any further inconvenience to your employer or anyone else affected by the terms of the writ.  Further, as a last resort, we can look into bankruptcy—this, too, will stop the garnishments.

We understand that garnishment can be frustrating and traumatic, and that addressing the problem can be painful and requires hard work. However, the sooner you face the problem, the sooner you can take care of it and make positive changes to improve your debt situation in the future.  Avoiding the problem or delaying changes to your habits will only prolong the problem and make it worse.

We are here to help you.  For more information or to retain Garmo & Kiste, PLC, call us at (248) 398-7100 or send us a private message for a free consultation.  We are licensed Michigan attorneys with offices in Troy, Brownstown, and Lake Orion, MI. Payment plans are available, and as always, you are under no obligation to retain our services and our advice during the consultation is free.

Do You Have Mounting Debt?

Have you been sued on a bank loan, by a medical provider, by a credit card company, or by a former landlord?  Let us help you.  The experienced debt collection attorneys of Garmo & Kiste, PLC now specialize in debt collection defense and bankruptcy work.  In the past, we learned the trade by working for credit card companies and debt collection agencies.  Now, we’ve taken that knowledge and applied it as the foundation for a strong debt collection practice, fighting with diligence and drive to relieve numerous clients of the stress and pressure of this kind of lawsuit. Every year, we handle hundreds of collections and collections defense cases.

For more information or to retain Garmo & Kiste, PLC, call us at (248) 398-7100 or send us a private message for a free consultation.  We are licensed Michigan attorneys with offices in Troy, Brownstown, and Lake Orion, MI.

Our Familiarity with Collections Industry:

Aside from our practical experience in this area, one of the greatest advantages of hiring our firm comes from the professional connections we bring to the process.  In any given case, we typically know the plaintiff, the plaintiff’s attorney, the court, and the presiding judge– all thanks to our past employment.  These relationships mean we know what we’re up against from square one, allowing us to quickly assess the facts of your case and determine the best course of action.  This, in turn, helps us reach the best possible result for you, our client.  Additionally, hiring an attorney who practices in the county where you were sued is particularly helpful– we regularly practice in Oakland, Macomb, Wayne, and Lapeer Counties.  Because we frequently appear in the same courts over and over, we know the ins and outs of fighting this kind of claim.  We know more loopholes than most attorneys, and we can accurately assess the matter and predict an outcome as it progresses through all stages.  Ultimately, this means we know when it’s time to fight and when it’s time to settle, getting you the best results possible.