My husband and I are in financial disaster. I lost my job a few years ago and we were unable to pay anything but the mortgage and utilities. We have sold our house since then and I payed off some off the debt with equity but didn't have enough equity to pay all. I am currently looking for a full time job with out much luck. All of our credit cards are in charge off phase and now my husband has a judgement. I have no idea where to even begin to clear this. Should I file bankruptcy? I can't even afford an attorney. Where do we begin? Thanks!
2006-07-11 02:01:05 · 5 answers · asked by 10 pts for me? 4 in Business & Finance ➔ Credit
You need to find the exemptions for your state.
If you don't have much, they can't take it. But, you need to check your states exemptions on wage garnishment. They may be able to garnish his wages unless your states exemptions don't allow it or if they allow your husband to file hardship.
If the judgment is in your husbands name only, depending on your states laws, they may not be able to touch anything that is in your name only or in both of your names.
If you have a joint bank account, or your husband has one in his name only, close those accounts and open one in your name only.
You might go to the site I've listed and do some reading in the forums.
2006-07-11 02:16:44 · answer #1 · answered by echo 7 · 0⤊ 0⤋
If you have already sold off your home and paid off a bunch of other debts, then any advantage to filing bankruptcy are now lost.
How much debt are we talking about? It's not worth it to file for then $20k.
In your current state, you are considered "judgement proof". No wages to garnish, no home or property to place a lien on.
But your problem is the future. Once you finally get a job and get your feet back under you, they will pursue the judgement. By then the interest will have really jacked up the balance.
First try and talk to the creditor and see if they can agree to some type of payment plan you can afford. If not, you may not have much other option but BK. If your income is low enough you may be able to get the filing fees waves. And most lawyers will give you a free consultation. Some of the other fees can be waved too.
2006-07-11 15:04:49 · answer #2 · answered by Anonymous · 0⤊ 0⤋
1) Don't file bankruptcy.
2) Sell some of your stuff to raise money
3) Work as many extra jobs as you can.
4) Get on a written budget and use cash
Can you settle the debt? If it has been passed along to a collection agency, then try to see if they will take a "settlement in full". Be sure to have them put that in writing.
DO NOT give them access to your checking account or give them post dated checks.
Checkout my blog site which is dedicated to helping people get out of debt. http://www.takecontrolofyourmoney.com
2006-07-11 09:53:17 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I'm certain that you must find every financial clarification at: loandirectory.info-
RE Charge off and now a judgement. Please help!!!!!?
My husband and I are in financial disaster. I lost my job a few years ago and we were unable to pay anything but the mortgage and utilities. We have sold our house since then and I payed off some off the debt with equity but didn't have enough equity to pay all. I am currently looking for a full time job with out much luck. All of our credit cards are in charge off phase and now my husband has a judgement. I have no idea where to even begin to clear this. Should I file bankruptcy? I can't even afford an attorney. Where do we begin? Thanks!
2014-09-03 12:46:19 · answer #4 · answered by ? 1 · 0⤊ 0⤋
Go to Banko Court and get a referral to one of their credit counseling-bankruptcy avoidance services.
2006-07-11 09:04:59 · answer #5 · answered by ze_ro_ma_vo 3 · 0⤊ 0⤋