After experiencing various types of financial obstacles, a Northern Mississippi resident can start to feel threatened. After all, the individual may be receiving calls and letters from creditors or may even be experiencing creditor harassment. In addition, the person might be facing the threat of garnishment, repossession or foreclosure. The possibility of asset forfeiture is understandably a frightening one, but there are legal solutions to these financial problems.
Many northern Mississippi residents depend on their weekly or monthly paycheck to pay bills and meet various legal obligations. Still, in a struggling economy, expenses can quickly get out of hand, debts may spiral out of control -- and at some point, that paycheck may be put in jeopardy. The threat of garnishment is very real to many local residents, but the threat can be eradicated with legal help.
Any Southaven resident who has ever financed a car is likely to know the sinking feeling that comes with missed payments. Late notices start arriving in the mail, phone calls and voice mail messages start accumulating, and sooner or later the threat of repossession becomes very real. In today's economy, it's not unusual for local residents to experience financial challenges that leave them wondering how they will cope with the prospect of repossession.
Countless residents of Mississippi are grappling with student loans, whether they are fresh out of school or graduated many years ago. Some are able to work their loan payments into their existing budgets, while others may discuss their financial challenges with the lender in order to obtain a deferment or temporarily reduce payments. For others, missed payments may be a reality due to overwhelming financial problems such as massive debt or unemployment. In such cases, these individuals may be facing the thought of or undergoing the experience of having their wages garnished.
When a person is severely in debt, that person may resort to selling off personal property in order to either repay debt or make ends meet. While many are willing, if reluctant, to part with items like jewelry or electronics, many understandably fear losing their home or car. Asset forfeiture is a threat to Mississippi residents who are in over their heads financially. Fortunately, there are legal options available for avoiding these scenarios.
One of the worst things that can happen to a driver is falling behind on car payments. In Mississippi, cars are essential for getting to work, transporting family members and simply carrying on with day-to-day living.
There are countless reasons why a person may fall behind on bill payment. Perhaps a Mississippi employer laid-off a worker unexpectedly, or maybe the rising cost of living is simply too high. The culprit could be lingering credit card debt from financial errors that occurred years ago, or possibly insufficient knowledge when it came to student loans or home ownership. Whatever the reason, enough missed payments can send a man or woman into the realm of repossession or garnishment.
One of the most distressing financial challenges can be having one's wages garnished by a creditor or by the government to pay off a debt. If a Mississippi resident accrues a certain number of missed payments on obligations such as child support, student loans or even credit card payments, they may eventually experience garnishment. However, the topic of garnishment can be quite confusing for many who are unfamiliar with state and federal law on the topic.
Buying a car is usually an exciting time in any Mississippian's life. Still, if one's finances aren't in shape beforehand, or if a buyer encounters tough financial circumstances, they and their car could be in danger of repossession.
Like other areas of Mississippi, Southaven and De Soto have experienced their fair share of economic uncertainty. Residents are likely grateful for their jobs and the income they provide, but, at the same time, residents know that unforeseen events can always crop-up. One of the first areas often affected by personal financial setbacks is the personal or family vehicle. After a layoff, for instance, all it takes is a couple of missed payments, and one could be dealing with the threat of repossession.