Asset Protection from Creditors – Credit Card Lawsuit
- Author Allan Henry
- Published March 2, 2011
- Word count 439
Asset Protection from Creditors – Asset Protection
When one begins to experience financial difficulties, the first thing that many creditors will try to go after is one’s assets. This can be very upsetting and in general many feel that there is little they can do to achieve asset protection from creditors. This can be true depending on how you handle the situation and what steps you take to protect your assets. Many think that bankruptcy will help, but bankruptcy will not always protect your assets and to further complicate the matter you lose control over what assets are used to satisfy the debts. These decisions will be made by a court appointed trustee who may not see things the way you do and may sacrifice assets that you would rather hold on to.
For many using a credit counselor or debt settlement firm seems to be a better solution and in some ways it can be, but these types of services do not provide asset protection from creditors either. Without this type of protection creditors can still put liens on your assets and also garnish your wages. When these types of things are done, you lose control of your finances and are unable to make the decisions you need to make to get yourself back on track.
The ideal solution is to enter into an asset protection agreement with a company that specializes in such matters. These types of services can offer asset protection from creditors while allowing you to maintain control of your finances. This type of arrangement works by you entering into an agreement with the company and allowing them to place a lien on your assets until you have fulfilled the terms of their contract. This will stop other companies from being able to seize your assets and dispose of them.
This may feel like to some a risky endeavor which is why it is important to use a reputable company that has experience in this type of transactions. By providing asset protection from creditors and working with you to help lower your debts and payments one can start to gain the control over their financial situation that circumstances may have taken from you. Using a firm that specializes in such matters is beneficial in that they can also help you in demanding validation from creditors that the claims they have against you are truly legitimate. Dealing with creditors and credit collection agencies can be a tricky matter and it is good to have someone on your side who can help you protect yourself and find a way out of the financial hole you are in.
Allan Henry is the founder and creator of Freedom From Creditors and its programs. And has personally eliminated over $1,000,000 in personal credit card debt.
Now available to you is the FREE fantastic 7 secrets of financial freedom report at www.freedomfromcreditors.com This report will save you thousands of hours of studying and will provide instant relief for your financial woes.
http://www.freedomfromcreditors.com
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