Fight Aggressively Against a Deficiency Lawsuit

Minnesota's Bankruptcy Law Firm for More Than 40 Years

Even if you let the bank take your home, you could still be on the hook if the mortgage lender forecloses by court action. The lender could file a deficiency lawsuit seeking the difference between the value of the house and the value of the outstanding mortgage amount. If your home is underwater (worth less than the outstanding mortgage), you could end up owing tens or even hundreds of thousands of dollars if a deficiency judgment is issued against you. You may also be served with a deficiency lawsuit for a repossessed vehicle or other repossessed asset you purchased on credit.

In most cases, you will have only 20 days to respond to a complaint and summons requesting a deficiency balance.

Act Promptly to Protect Your Options

The best time to respond to a deficiency lawsuit is before it happens. The bankruptcy system provides protection in the form of an automatic stay on deficiency lawsuits, collection lawsuits, garnishment and further possible repossession actions. By filing for Chapter 7 or Chapter 13 bankruptcy, you can gain protection from a deficiency lawsuit, obtain debt relief and get the chance to build a brighter financial future for yourself and your family.

In a free consultation, an attorney at Prescott Pearson & Tande, PA, can review your situation and discuss your debt relief options. We have solutions for people who have already been served with a deficiency lawsuit as well.

Experienced Foreclosure Lawyers in Minnesota

At Prescott Pearson & Tande, PA, we have decades of experience helping clients in cases involving garnishments, repossessions, lawsuits and other related matters. We handle bankruptcy and other debt relief options to help our clients get out of serious debt problems. Our lawyers can help you.

A lawyer at our firm can explain the bankruptcy process and help you make the right decisions. If it is impossible to avoid foreclosure, your lawyer can discuss actions our firm can take to prevent the lender from coming after you for a deficiency judgment. Despite your financial problems, your fate is in your own hands. Get help from the experienced legal team at Prescott Pearson & Tande, PA

"This Is All We Do, and We Do It Well."

Call For a Free Consultation Today

  • Minneapolis-St. Paul Area: 651-968-8096
  • Minnesota Toll Free: 888-366-0827

To learn more about deficiency lawsuits and how Prescott Pearson & Tande, PA, can help you, contact our firm online.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.