Protecting one's rights in an asset forfeiture situation

One of the most intimidating aspects of overwhelming debt is the threat of asset forfeiture. When Mississippi residents receive notice that they may see their wages garnished or their vehicles repossessed, what are the proper steps to take to remedy the situation? A Southaven bankruptcy attorney can guide an individual through the process of protecting one's personal property.

Some local residents may not know that filing for bankruptcy can put a stop to garnishment, repossession and even foreclosure. As soon as one files for personal bankruptcy, both garnishment and repossession actions are halted. In addition, individual bankruptcy also puts an end to creditor harassment. Individuals and families no longer have to cope with the frequent phone calls that come from collectors, nor the threatening notices that are received regarding asset forfeiture.

By working with an experienced bankruptcy lawyer, a person can review his or her options and decide on the most appropriate type of personal bankruptcy: Chapter 7 or Chapter 13. In either case, Heidi S. Milam, Attorney at Law, PLLC has assisted individuals in crafting plans that allow for as little disruption of life as she can. At the same time, working with an attorney will also help a person decrease or even eliminate their debts to the extent the law allows.

One of the most crucial elements of deciding to seek legal help for asset forfeiture is doing so as soon as possible. For instance, in repossession situations, it's possible to retrieve one's car before ten days have passed from the date of repossession. Following that ten-day period, though, the loan company can legally sell the vehicle. In order to reap the most meaningful benefits from legal assistance, it may be critical to schedule a consultation sooner rather than later.

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