What Should Victims of Financial Crime Do to Cope With the Resulting Debts?
It is easy to feel like everyone is blaming you for being in debt. Personal finance experts smugly tell you to earn more money and spend less, even though you already spend virtually every waking moment engaged in at least one income-generating activity; at this moment, a receptionist at an apartment building or hotel is doing freelance writing during down time at work, and a lawyer is writing work emails during her children’s soccer practice, and both of them are only able to afford minimum payments on their credit card debts. “Don’t get sick” is the most infuriating piece of personal finance advice. It is a relief when someone finally tells you that your debts are not your fault, that you really work as hard as you think you do and stuff is really as expensive as you think it is. If you are in debt because someone misused the financial information that you gave them for a valid reason and made transactions from your account without your consent, only the cruelest person would blame you. No matter where your debts came from, the best way to deal with them is not to dwell on how you incurred them, but to focus on the fastest and least expensive ways to make them go away. For help rebuilding your finances after falling victim to fraud or identity theft, contact a Miami debt lawyer.
When Someone Makes Fraudulent Transactions With Your Money, Your Legal Problems Might Just Be Beginning
In a perfect world, creditors would always hold you harmless for debts incurred by scammers using your financial information, but if they want to make you pay the debts that scammers racked up without your consent, the law is usually on their side. Credit cards and banks must credit you for fraudulent charges on your account if you successfully argue that you did not authorize these charges. Even if they do this, a financial crime committed against you can leave you with a mountain of debt, as late fees and interest pile up; you could even face business to consumer lawsuits. Even if the criminal court catches the scammers and orders them to pay restitution, it will take a long time, and creditors don’t like to wait.
Does the Bankruptcy Court Have Your Back If You Are Not the One Who Racked Up Debts in Your Name?
The good news is that you have the right to file for bankruptcy protection; everyone does. The bankruptcy courts protect everyone who honestly shows how they ended up in debt, whether it was because of illness, divorce, being the target of financial crime, being laid off from a job, or even just financial mistakes. The court will discharge your eligible debts, enabling you to rebuild your finances.
Work With a Debt Lawyer About Bouncing Back From Fraud
A South Florida debt lawyer can help you discharge, settle, or pay down debts that you incurred because someone targeted you for fraud. Contact Nowack & Olson, PLLC in Miami, Florida to discuss your case.
Source:
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