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What Happens if You Ignore Debt Collectors?

Taurus Collect

Creditors may take legal action to recover the debt, which might result in wage garnishment or a lien against your property. Cash Flow Interruptions: Ignored debts can lead to frozen bank accounts or seized assets, significantly hindering daily operations and the ability to conduct business effectively.

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What Can I Keep if I File For Chapter 7 Bankruptcy?

Sawin & Shea

If the court grants a judgment in favor of the creditor, they have additional collection options, such as wage garnishment, bank account levies, or placing liens on the debtor’s property. In some cases, debt collectors may take legal action by filing a lawsuit against you to obtain a court judgment.