2007-03-01 04:55:03 · 2 answers · asked by question 1 in Business & Finance ➔ Other - Business & Finance
You haven't posted enough facts about the case and your friend should see a local attorney. Laws vary by state.
Your friend could try to settle the lawsuit. Sometimes lawsuit can be resolved with a lump sum payment or a payment plan. The lawsuit may have no merit and your friend could win a trial. You friend might not have any assets or income to pay, so the lawsuit might not even have a negative impact.
The type of lawsuit might determine if the debt can be discharged in bankruptcy. But without more information, it will be hard to get a more meaningful answer in this forum. Please tell your friend to consult a local attorney for better information.
2007-03-02 07:20:21 · answer #1 · answered by Carl 7 · 0⤊ 0⤋
What kind of law suit? Hard to answer. There are some lawsuits that bankrupcy wont matter. Get some legal advice. With the new bankrupcy laws, alot of items that were protected are no longer protected. Again the type of lawsuit matters. If it regards credit cards, you can usually work out a deal with the credit card companies whereby you pay a lot less than you owe but your credit it shot. Still the debt is gone. Your question needs to be a lot more specific.
2007-03-01 05:05:28 · answer #2 · answered by juncogirl3 6 · 0⤊ 0⤋