Tag Archives: Fonfrias

Debt Settlement and Mortgage Modification Scams on the Rise, Warns Chicago Bankruptcy Lawyer Richard Fonfrias

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Chicago, Illinois (PRWEB) March 8, 2010

Richard G. Fonfrias, J.D. of Fonfrias Law Group, LLC (http://www.chicagomoneylawyer.com), a leading Illinois bankruptcy law firm, urges customers seeking monetary assist in these challenging instances to proceed with extreme caution. “Debt settlement scams and mortgage modifications scams are on the rise in the state of Illinois. These unscrupulous firms prey on people who are desperate to steer clear of economic ruin, who, in several cases, are misled into considering it is their a single and only selection. It is imperative that buyers know their rights below the law and completely understand just what they are getting themselves into, before they sign anything. To make an informed decision, customers need as much details as feasible. Luckily, there is a excellent deal of helpful info that shoppers can access for free of charge, from trustworthy sources such as government agencies and trustworthy bankruptcy lawyer sites,” states Fonfrias.

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Mortgage and financial service fraud are the fastest increasing white collar crimes in the U.S. today. In Illinois, Lawyer Basic Lisa Madigan’s office

Chicago Bankruptcy Lawyer Fonfrias Adds New Article to Website Explaining How to Defend in a Citation to Discover Assets

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Chicago, IL (PRWEB) November 06, 2012

To assist people with financial problems and who are dealing with creditors in Illinois, Chicago bankruptcy lawyer and financial rescue expert Richard G. Fonfrias, J.D., of the Fonfrias Law Group, LLC, has added an informative new article to his law practices website (http://www.chicagomoneylawyer.com), entitled How to Defend Yourself in a Citation to Discover Assets.

In his new article, Fonfrias, a leading Illinois bankruptcy attorney, explains in plain language exactly what a Citation to Discover Assets is and how it can adversely affect anyone who owes money to creditors. The article discusses in depth how a citation works and goes on to explain in detail how the process proceeds and its many possible outcomes. Fonfrias provides helpful information, including how Illinois law protects some income and property from creditors, and offers advice, including what to do if a creditor gets a judgment against you and what to do if you receive a Wage Deduction Notice.

A Citation to Discover Assets is issued after a creditor sues for money and wins. Following the judgment, the creditor may try to collect by requiring the debtor to appear before the court for a Citation to Discover Assets, states Fonfrias. During this proceeding, the creditor wants to discover the debtors income and the value of property that can be seized to collect for money owed. At the hearing, the court may require certain financial documents including tax returns, bank statements, and payroll stubs. The Citation to Discover Assets creates an automatic lien on all nonexempt property. If the defendants bank is served with a Citation to Discover Assets, then the bank must freeze all of his accounts unless the funds are exempt. Illinois law does protect some income and property, and if during the hearing it is determined the debtors income and property are exempt under Illinois law, then the Citation to Discover Assets is dismissed and the creditor will get nothing. However, should the judgment go to the creditor, there are serious implications. It is extremely important to understand your rights, when dealing with creditors and the court. In the How to Defend Yourself in a Citation to Discover Assets article, I outline the steps to follow during the court hearing and explain the potential consequences of a judgment against you could be, says Fonfrias.

The Citation to Discover Assets article is just one of dozens of educational guides and essays provided by Fonfrias on his web site that offers value information on a wide range of legal topics, including bankruptcy, foreclosure, debt consolidation, and loan modification. At my Chicago law practice I have helped thousands of clients over the years and know that many find themselves in serious legal and financial difficulties due to misinformation or bad advice. This is why I feel it so important to educate the public and provide as much information as possible; through my website, my monthly radio show and my free informational seminars, so that people are equipped to make the right choices when it comes to protecting their finances, states Fonfrias.

Contact Information:

Richard G. Fonfrias, J.D.

Fonfrias Law Group, LLC

First National Plaza

70 West Madison, Suite 1400

Chicago IL 60602

Phone: 312-969-0730

rich(at)chicagomoneylawyer(dot)com

http://www.chicagomoneylawyer.com

About Fonfrias Law Group: Chicago Money Lawyer Richard Fonfrias of the Fonfrias Law Group has built a solid reputation helping clients in serious financial trouble find the right solution to their money problems. Serving Illinois, California and Florida, the Fonfrias Law Groups dedicated financial rescue and bankruptcy team offer extensive financial legal services, including bankruptcy defense, tax defense, debt consolidation, bad credit repair, foreclosure defense, credit card debt management, loan and mortgage refinancing advice. For more information call 312-969-0730 or visit http://www.chicagomoneylawyer.com.