It is your unlucky day. The cops have just arrested you and now they want to get a statement from you. Or, perhaps, they are still investigating and have decided to come talk to you. What should you do?

• The very first thing you should do is to ask to speak to a lawyer.  The police often make promises that they cannot or have no intention of delivering on. There is nothing illegal about this. Don't rely on promises of leniency or the line that it is your civic duty to cooperate.
• If you are a suspect … the police are not your friends. If they are asking you questions … then you are a suspect. Tell them nothing. Ask for a lawyer and shut up. Do not pay attention to their threats. If you are going to be charged, it will be because of the evidence that they have. If they have evidence, they will charge you. If they don't, they will not. If you talk to them, the only evidence they ever get may be your own statement.

If you are arrested, you'll be "booked."  What this means is that you will be processed into your local jail. You will be fingerprinted and photographed. Then you will be put in a holding cell until you can be brought in front of a magistrate or judge to set bail.

You have the option of release on bond unless your alleged crime is such a violent one that no bond is to be set. Some murder charges and seriously violent crimes may have no bond at all. If your offense is relatively minor, you may be released on a personal recognizance bond. This is usually pretty rare. Normally, a bail bondsman will charge a fixed percentage of the bail amount as their fee for posting the bond. They are basically making you a loan to purchase your temporary release. If you fail to appear at court the bondman loses his money and will come looking for you or your family’s assets to pay him back.  You will not get this money back when your case is over. Whether you bond out or not, you can expect to be brought before a judge again in the near future for something called an “arraignment.” Typically, this is the time when you plea guilty or innocent. At this stage you may be appointed a lawyer if you could not afford one or you may be given time to hire one.

Bail is just a temporary release from jail. If you are convicted or enter a plea you might be back in jail again soon.  After the arraignment your case will probably be set for at least one hearing date for you to decide whether or not to enter a plea bargain.  There may also be settings for Motion Hearings and other hearings.
 

 

Everyone knows that having a debt means that you owe money to someone who is called a “creditor.” But there are many ways a debt can arise, and not all debts are the same in terms of your legal obligation to pay the debt. The options available to a creditor to try to collect the debt will also depend upon what kind of debt it is.  Most of your debts probably arose because you agreed to them.

• You may have financed a car, which means that a creditor loaned you money to buy it.
• You may have signed up for a credit card, which means that the creditor extended credit to you on purchases using the card, with your agreement to repay the creditor under the terms of the credit agreement you signed.
• You may have co-sign on a loan as a guarantor.

A debt can arise even if it is based on an oral understanding, such as paying someone to mow your law or clean your house. It could even be an implied understanding, such are when someone gives you something or renders services on your behalf in expectation of being paid.

Debts break down further into “secured” and “unsecured” obligations.

• A “secured” obligation means that you have agreed to give a creditor a lien on some of your property. This makes the property “collateral” that a creditor can take if you default on your obligation. Sometimes, you can offer the same collateral to more that one creditor, such as when you take out a second mortgage on your house. It then becomes a priority issue between the creditors to decide which one would be able to foreclose first in the event of a default.
• An unsecured debt means that there is no collateral.  Although both types of debt are enforceable, a secured creditor has the leverage of collateral to fall back on if there is a default. On the other hand, unsecured creditors oftentimes find themselves at the end of the line when financial problems arise.

In addition, a promissory note is usually the most important document that you’ll be asked to sign. It will set out the critical terms of your loan, such as the principal amount borrowed and the interest rate. Most fundamentally, the promissory note will also set forth what is usually an unconditional promise on your part to pay back money in accordance with the terms of the loan. On a loan secured by real property, the lender will want a mortgage from you. In some states, this is called a deed of trust. Whatever the document is called in your state, it gives the lender the right to foreclose on the property if you default.
 
 

Lenders are required to tell you certain things before you sign on the dotted line. The Truth in Lending Act, for example, requires disclosure of the essential terms and costs of a loan, including:

• The annual percentage rate, points and fees
• The total of the principal amount being financed
• The payment due date and terms, including any balloon payment where applicable and late payment fees
• If there are variable interest rates involved, the Act requires that you be told the highest rate the lender would charge, how it would be calculated and the resulting monthly payment
• The total finance charges
• Whether the loan is assumable
• The amount of any application fee
• Any annual or one-time service fees
• Pre-payment penalties

Can I change my mind after I sign the paperwork on a loan?
The Truth in Lending Act, for example, gives a consumer the right to cancel certain real estate loans within three business days without penalty. But these protections will usually apply only to limited consumer transactions. The chances are that they won’t apply to a business or commercial loan.
 

Eminent domain is the power of government to take private property and use it for public use.
Every state has laws regulating how government can take the property of private landowners. In many states, the government is required to negotiate with the property owner before actually taking the property. In some states, the government can begin legal proceedings to take property without giving prior notice to the property owner.
 

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