Perry, GA Bankruptcy Law Firms & Lawyers

Bankruptcy prior to foreclosure may well be the best option. For one thing, there could be negative tax consequences of foreclosure, short sale or deed in lieu. Consult with an accountant first and then a bankruptcy attorney.

Technically, your condo association already has a lien against your condo for the amount of any unpaid association dues or fees. However, this lien does not attach to any other property that you own. The lien simply attaches to your condo by operation of law. In order to secure a lien against any other property you own, the condo association will have to file a lawsuit against you. If the condo association obtains a judgment against you, then a judgment lien can attach to other real and personal property that you own. Without a judgment lien, the management company for your condo cannot garnish or levy any of your other assets. It would be a good idea to consider incorporating your business or forming a limited liability company. You should consult an attorney experienced in business formation to discuss in detail what would be best for you.

Depending on your state a creditor that has obtained a judgment may freeze your account in a few days depending on how fast they serve your financial institutions. The sooner you can file your Chapter 13 the sooner you can rest assured that your accounts will not be garnished.