What happens if I do nothing?

If you do nothing, then the current situation you are in will only get worse.

At a minimum, the assessments, late fees, and other costs will continue to accrue only making your debt level worse.

Because you debt level is increasing and you are not able to keep up, your credit score will nosedive like a rock.

At some point, your debt will be 'charged off'. Many people think that this is it, the debt is now gone. This is not the way it works. When a debt is charged off, it simply means that the creditor has listed your debt as a bad debt and turned it over to a collection agency. Now the debt is in the hands of a third party collector. Your credit score is even worse.

Once the debt is in the hands of the collection agency, they begin the daily process of calling you and demanding payment. Some collectors will treat you with respect, others will be rude, obnoxious and harassing. They may call you at work and ask to speak with your supervisor. They may call your neighbors and ask for them to deliver a message to you!

Eventually, if you do not pay the debt, it will get turned over to a law firm for a collection lawsuit. You will be served with the papers and will be expected to defend the lawsuit. If you do not, the collection lawyer will get a default judgment against you and you will owe the money now as ordered by a court order.

If a court order is issued declaring that you owe the money in question, remember that it is not just the amount of the debt! It is now all the interest and fees, including attorney fees, on top of the original debt. In addition, the debt will continue to accrue interest at the contract rate you had!

With the Court Order, the collectors can now garnish your wages, place a lien against your home, or seize your bank account.

With the Court Order, the collector can order you to appear in Court for what is called a 'supplemental proceeding.' If you fail to appear at this supplemental proceeding, a warrant will issue for your arrest. One day while you are driving down the road and get stopped for speeding, the officer will advise there is a warrant for your arrest and you will be carted off to jail. The amount of bail? Usually the amount you owe for that debt.

We've developed a great program to allow you to file for bankruptcy with very little money down and get the breathing room you need from your creditors. Using time proven methods, we rewrite car purchase contracts, deal with IRS debt, stop foreclosures, and still let you get the fresh start you are entitled to!