2007-01-11 10:53:46 · 7 answers · asked by chido123 1 in Business & Finance ➔ Credit
You can not go bankrupt just like that. You have to declare you do not have anything to pay and move an application in an appropriate court for INSOLVENCY. Then you need not worry and go Scott free and the debtors can not do anything-
2007-01-11 17:39:20 · answer #1 · answered by Anonymous · 1⤊ 0⤋
They could enforce the judgment and come after your bank account or other assets if you have any.
Or they could just rollover and do nothing like most debt collectors with judgments.
Then its just a waiting game until it comes off your credit report.
http://www.disputedemon.com
2007-01-11 11:16:49 · answer #2 · answered by CreditScoreBooster 2 · 0⤊ 0⤋
set up a payment plan, and speak with the judge, no one else. last but not least make sure to stay in communications with them until all payments have been made. Then get it finalized with a receipt.
Trust me get a written receipt and store it away.
2007-01-11 11:04:51 · answer #3 · answered by David H 2 · 0⤊ 0⤋
You're still responsible for the money. You need to work something out and stick to the payments.
2007-01-11 11:01:54 · answer #4 · answered by clarity 7 · 0⤊ 0⤋
unfortunately nothing. it will stick with you for life accuring interest all the while. best thing to do is man up and set up a payment plan you can afford
2007-01-11 10:59:32 · answer #5 · answered by ratfog2005 2 · 0⤊ 0⤋
If you have employment they CAN garnish your wages to pay the judgement.
2007-01-11 11:07:52 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Go bankrupt!
2007-01-11 11:13:15 · answer #7 · answered by SARAH 2 · 0⤊ 0⤋