There are certain events in life that put a financial strain on New York residents' lives. Often, these events are beyond a person's control. For example, sometimes a medical issue can be so severe that even with insurance, people rack up debt and have a difficult time paying all their bills. Or, people lose their job and can no longer afford to pay their bills. Divorce is another life change that can have a financial effect. As two people learn to live separate lives, bills can go unpaid or simply be forgotten about.
In any of these situations, creditors may try to collect the money owed to them through legal tools that allow for asset forfeiture. In these cases, a person's personal property may be subject to repossession, or their wages garnished so that the person's debt can be paid.
A recent report suggests that reality television star Porsha Williams may have her wages garnished by a former condominium association. Williams is one of the stars of the television series "Real Housewives of Atlanta" and is currently involved in a divorce.
According to reports, the association says that Williams owes $18,000 in dues. She was apparently sued in 2012 over the debt, but the association is just now trying to seize the woman's assets. Apparently, they are trying to freeze the woman's bank accounts and take money made by Williams' participation on the television show to pay the debt.
Asset forfeiture of any kind can be a scary prospect for many New York residents. People may not understand that they have legal rights that can help to protect which assets are taken and how they are taken. Furthermore, people may be able to stop the forfeiture altogether. In some cases, bankruptcy may be a person's best option to try and keep their property. Those facing difficult economic times should make sure they understand these rights and how to protect themselves from aggressive creditors.
Source: News One, "Porsha Williams May Have Wages Garnished By Homeowner's Association," Ruth Manuel-Logan, Jan. 23, 2014