law office of patenaude and felix lawsuit for Credit Card Debt

May 15, 2011 | by Christopher Hewitt

More and more of my Bankruptcy clients are being sued by The Law offices of Patenaude and Felix. They are based in San Diego and have many California lawyers who sue on credit card debt. If you have been served a summons or are being sued or looking at a default judgment from this law firm then we should look at bankruptcy as a potential option or possibly trying to settle the debt if you can come up with a lump sum payment. Default judgments will allow them to collect 25% of your net income through a wage garnishment and for most people even who make a lot of money a chapter 13 plan will be much less on a monthly basis then the loss of 25% of your wages. If you are below the median income you can do a chapter 7 bankruptcy and most likely keep all your assets. Call my office to find a solution to your legal problems with Patenaude and Felix.

Free Consultation - Se Habla Español Palm Desert: 760-585-4451 San Clemente: 949-669-1014Riverside: 951-717-9020

How does debt consolidation affect credit scores?

Initially, it might cause a slight dip due to credit inquiries. However, consistent payments can improve your credit score over time.

What is the difference between debt consolidation and debt settlement?

Debt consolidation involves taking a new loan to pay off debts, while debt settlement is negotiating to pay less than you owe. Settlement can negatively impact your credit score.

What are secured vs. unsecured debt consolidation loans?

Secured loans require collateral (like a house or car), usually with lower interest rates. Unsecured loans don't require collateral but typically have higher rates.

Is debt consolidation right for me?

It depends on your total debt, interest rates, credit score, and payment capability. It's suitable if you can pay off your debt within five years and secure a lower interest rate than your current debts.

Should I consider long-term financial planning?

Yes, debt consolidation should be part of a broader financial strategy including budgeting, cutting expenses, and building an emergency fund.

How do Chapter 7 and Chapter 13 bankruptcies in California differ?

Chapter 7 involves liquidating assets to pay off debts, while Chapter 13 allows debt restructuring over a set period, usually three to five years.

Can my spouse's bank account be garnished for my debt?

Bankruptcy laws offer protections against such actions, but specifics depend on individual cases and state laws.

How can I learn more about my options?

Consulting a California bankruptcy attorney can provide clarity. Firms like The Law Offices of Christopher Hewitt offer free consultations to explore debt relief paths.