Stop Garnishments, Repossessions, and Foreclosures

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Stop Foreclosurehome-ownership

Georgia is a non-judicial foreclosure state which means that your lender does not have to institute a legal proceeding in order to foreclose on your home. Unlike in some other states, a mortgage lender in Georgia can simply notify you of their intent to foreclose and run an ad in the local paper for one month in order to foreclose on your property. If the lender has followed these steps, then they can auction your property to the highest bidder on the first Tuesday of the following month.

FILING BANKRUPTCY WILL STOP A FORECLOSURE AND HELP YOU SAVE YOUR HOUSE.

Georgia is a “non-judicial foreclosure” state.  That means the lender can foreclose on your home without filing suit or appearing in court before a judge.  The procedures for foreclosure are spelled out in the Official Code of Georgia, Sections 44-14-162 through 44-14-162.4.

Foreclosure begins with a default under the terms of the original promissory note or deed to secure debt.  Usually the default is your failure to make the required payments on the loan.  A default can also occur due to things such as failing to maintain property insurance or pay your property taxes.

Next, the holder of your mortgage must send notice to the borrower of its intent to foreclose.  The borrower will not get much advance notice – Georgia law requires that the notice be sent at least 30 days before the date of the proposed foreclosure sale.   The notice must be in writing and include the name, address, and telephone number of someone who has authority to negotiate, amend, and modify the terms of the mortgage with the borrower.  The notice must also be sent to the borrower by registered or certified mail or statutory overnight delivery, return receipt requested, and include a copy of the advertisement of the foreclosure sale that will be published in the official county newspaper for public announcements.  Refusing to accept a notice sent by registered or certified mail is a bad idea; it will not invalidate the notice.

The holder of your mortgage must publish notice of the foreclosure in the official county newspaper for public announcements where the real property is located for four consecutive weeks prior to the scheduled foreclosure.

If it has not already done so, the holder of your mortgage must file proof that it owns title to the security instrument related to the real property with the clerk of the superior court of the county in which the real property is located, prior to the start of the foreclosure sale.  This proof is usually in the form of an assignment of the promissory note and deed to secure debt.  Since mortgages are often sold or assigned, this requirement may assist the borrower with identifying the current holder of their mortgage.

The foreclosure sale will take place on the courthouse steps in the county where the property is located.  By law, foreclosure sales take place on the first Tuesday of the month between the hours of 10:00 a.m. and 4:00 p.m.  Bidding is open to the public, but the mortgage holder often is the only bidder.  The mortgage holder will sign a deed of foreclosure to the winning bidder, which may well be itself.  At that point, the winning bidder becomes the new owner of the property.

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Stop Repossessioncar-repossession

Let’s face it, you need your car. To get to work, to shuttle the kids around, to run to the store. Life in 21st century America almost requires a car.  And when you’re struggling to make ends meet and battling with creditors, the last thing that you need is to lose your car. Unfortunately, it is very easy for an auto lender to repossess your vehicle.  Once you’ve defaulted on your auto loan, the lender can repossess your vehicle at any time as long as there is no breach of the peace. In order to avoid any issues, many repossessions occur in the middle of the night.

FILING BANKRUPTCY WILL STOP REPOSSESSION AND HELP YOU SAVE YOUR CAR.

When you finance or lease a car, truck or other vehicle, your creditor or lessor holds important rights on the vehicle until you’ve made the last loan payment or fully paid off your leasing obligation. These rights are established by the signed contract and by state law. For example, if your payments are late or you default on your contract in any way, your creditor or lessor may have the right to repossess your car.

Respective rights of buyer, seller, etc., following repossession of motor vehicle sold under a retail installment contract are covered under Georgia Law, specifically Code Section § 10-1-36 of the Official Code of Georgia.

Repossession of motor vehicles pursuant to a title pawn transaction are covered under Georgia Law, specifically Code Sections § 44-12-131 and 44-12-138 of the Official Code of Georgia.[/vc_column_text][/vc_tab][vc_tab title=”Garnishment” tab_id=”1386358402-1-94″][vc_column_text]

Stop GarnishmentWage Garnishment

The last thing that you need when you are struggling financially is a garnishment of your wages. If a creditor gets a judgment against you and knows where you work, the creditor can send a garnishment to your employer requiring that they withhold up to 25% of your after-tax wages and forward it to them. If your employer fails to garnish your wages, your employer could be held liable for the amount of the judgment. Consequently, employers are very diligent about garnishing wages once they’ve been notified to do so.

In addition to wage garnishment, if a creditor has a judgment against you, they can also attempt to garnish your bank accounts. As with a wage garnishment, if a bank receives a garnishment, subject to certain requirements, the bank is required to surrender such funds from your account as will satisfy the judgment. Unlike the cap on wage garnishments at 25%, there is no cap on the amount that can be taken from a bank account except that some types of income, such as social security, may be exempt from garnishment. 

FILING BANKRUPTCY WILL STOP ALL GARNISHMENTS.

 

A wage garnishment only lasts 6 months. However, it can be renewed indefinitely, in the event that the prior garnishment was not sufficient to satisfy the judgment. Many times a defendant will believe that the judgment has been satisfied, due to the fact that the garnishment has ceased, only for it to be renewed again after several pay periods. Fortunately, employers are not permitted to fire an employee if they are subject to one wage garnishment. However, they are allowed to fire an employee who has two or more pending wage garnishments, subject to certain exceptions (such as taxes or child support).[/vc_column_text][/vc_tab][/vc_tabs][/vc_column][/vc_row]