When you encounter financial dilemmas, you might focus primarily on safeguarding assets like your home and vehicles. You want to protect them from repossession or levies to pay off your debts.
However, you might also realize you cannot keep them in your name. Instead, you can hire legal help like a West Chicago deed in lieu lawyer to utilize the options available to you as a debtor.
Legal Options
You might lack any knowledge of what options you have as a debtor. You might fear having the IRS or another creditor seize your property because you lack the cash to pay off what you owe.
However, your lawyer may advise you to transfer deeds for the property over to someone else during the time you owe the bill. You can then pay off what you owe through other means, such as a payment arrangement, and avoid the worry of the creditor seizing your assets.
Your attorney can also make sure these options are utilized lawfully so you avoid a lawsuit or going to jail. You can get back what you own once you pay off your debt and avoid the risk of being found in contempt of court.
You can find out more about the benefits of hiring legal counsel like a West Chicago deed in lieu of a lawyer online. To get details about what services are available, contact Covert Marrero Covert LLP for more information.
