My husband is being sued by a bank (the evil people) for a jet ski that was repossessed last year. The problem is we are living in a shelter where we pay a subsidized amount a month, we have three kids and haven't been able to come up with the $100.00 to start the bankruptcy process because of rent and other bills. They are wanting to take most of his check leaving us to 25% of it. When he went to court, they failed to tell him or give him the option of what to take out in the paychecks....not sure if they can do that or not...anyone who can give us some advice it would be much appreciated...thanks for taking the time to read. I might add, the jet ski was purchased before I met my husband.
2007-01-23 07:23:46 · 11 answers · asked by Michelle P 2 in Business & Finance ➔ Personal Finance
Accept reality. Bite the bullet. Pay the debt. Once the debt is paid the judgements will be removed and you will be able to keep what you earn.
Take personal finance management classes and learn how to LIVE WITHIN YOUR MEANS.
That means no more expensive TOYS.
You will have to earn a living as well.
Living under the radar will eventually catch up with you.
And banks are not evil people. Your husband was foolish and irresponsible for buying an expensive toy in the first place. The financial institution is only trying to recoup a loss.
2007-01-23 07:38:22 · answer #1 · answered by WhatAmI? 7 · 0⤊ 0⤋
You have not said what happen to the Jet ski: The original owner if he got his Jet Ski back how much is their claim for the balance? How does the previous owner get the Ski and you have a bank loan? Was your husband represented in court by even a law clerk?
Who filed against your husband? How much the Jet Ski originally, how much was owed when reposed? At this point your husband need to work at another job.
2007-01-23 07:36:24 · answer #2 · answered by whatevit 5 · 0⤊ 0⤋
Bankruptcy, as unpleasant as it sounds is the only legal way I have ever heard of to protect one's self against a debt. Since you were already considering this, make it a priority to set a little towards the initial fees or see if you can borrow the $100 from a family member. Once you file the papers, and get the process in motion, you can begin to breathe easier and eventually make a fresh start. It's not without it's down sides- bad credit and all that. But you will be given the opportunity to clearly establish that you cannot afford the payments they are taking.
2007-01-23 07:33:41 · answer #3 · answered by ? 2 · 1⤊ 0⤋
My understanding is that they are allowed to take up to 20% of your disposable wages (per a court order- depending on the state you live in). If the garnishment is causing your family financial hardship and putting you below the poverty line - you can file a request for the garnishment to be reduced/stopped with the courts and with your debtor. (this doesn't cost anything) If you contact the clerk of courts they should be able to mail you a worksheet that you will need to fill out and submit showing how much your monthly income is and your expenses and family size.
(there should have been one included in your notice of the court date for the garnishment)
While a creditor has the right to the money that is owed to them - by law that garnishment can not put you below the poverty line.
if you can not get the garnishment stopped - you may be able to get the amount that is being taken lowered.
Call the clerk of courts in your county and explain the situation and ask them for the paperwork.
2007-01-23 07:55:51 · answer #4 · answered by Simplekindoflife 2 · 1⤊ 0⤋
they don't need to ask they usual figure it out so they can get there money that fastest way. but i would make shur with some lawyer that they cant touch Ur paycheck if u work b.c sometimes the bank will go after the husband/wife's paycheck.
maybe once u got paychecks and some food parched take a 100 out of the check and start the bankruptcy.
best if luck to ya
2007-01-23 07:44:55 · answer #5 · answered by broncosnumber30 4 · 0⤊ 0⤋
No there is not any thank you to provide up it till the papers are filed and the financial disaster registered. Even then you certainly might have issues having the garnishment became off promptly. companies tend to what to gets a commission what they are owed.
2016-12-16 11:45:06 · answer #6 · answered by ? 4 · 0⤊ 0⤋
there are other alternatives than bankruptcy. There is an agreement called a part IX agreement. Look closely at alternatives to bankruptcy to make sure they are right for you. I used a company called Debt control. look them up on the net - they may be able to help thats if you are in Australia. Bankruptcy ruins your credit even if you get discharged....its 7 years out of your life.
2007-01-23 11:50:51 · answer #7 · answered by Anonymous · 0⤊ 0⤋
The only way to get out of garnishing his wages is for him to find a cash paying job. I know it's easier said than done, but I don't know how else he could get out of it.
Good luck, I hope things turn around for the better for you and your family.
mim1978h: if you're talking about me, I could care less. I'm not on here to get graded on my spelling and grammer. Oh, wait...... grammar.
2007-01-23 07:27:35 · answer #8 · answered by ticktock 7 · 1⤊ 1⤋
The only way you'll be able to breathe is to go into bankruptcy.
Try and get $l00 out of your local church (after you explain what you're trying to do)... Other than that, there's only relatives, and they usually say no...
2007-01-23 07:38:33 · answer #9 · answered by poutine 4 · 0⤊ 0⤋
you will never get ahead if you blame any failure on others, the bank is not evil for wanting you to live up to your end of a deal, it isnt in a charity business
2007-01-23 07:51:35 · answer #10 · answered by swenjj 4 · 1⤊ 0⤋