2007-04-10 03:50:12 · 7 answers · asked by nncywlndr 1 in Business & Finance ➔ Credit
Good news They can not touch your Social security money. Some times they say they will sue you, but most times they won't because it will coast them more money to do so. They will ding your credit score, As for Bankruptcy? Talk to a bankruptcy lawyer, and go from their or try legal aid.
2007-04-10 04:06:06 · answer #1 · answered by railroad_joe 3 · 1⤊ 0⤋
I also had a debtor (a bank) sue and nothing has happened so far. I'm not on social security or anything. I don't think you should file for bankruptcy. Bankruptcy is a serious thing with long term consequences. This may not be worth it. If you don't have money they can't get anything out of you anyway. Can't get blood out of a stone.
I am by no means an expert on any of this. Just had it happen to me. You might want to get some legal advice from a lawyer or a credit institution just in case. Good Luck!
2007-04-10 10:57:21 · answer #2 · answered by FW 3 · 0⤊ 0⤋
Go seek expert Advise as bankruptcy could effect your life for some time to come.
I wouldn't mind betting that what seems like a impossible situation at the moment will look a lot brighter when you get help.
Good Luck
2007-04-10 10:58:09 · answer #3 · answered by ashymojo 3 · 0⤊ 0⤋
Do you owe the debt? If so, try to make payment arrangements. Yes, they can sue. And is this a big enough debt to even bother filing bankruptcy? The laws have changed about that.
2007-04-10 10:55:09 · answer #4 · answered by Tiffany 3 · 1⤊ 0⤋
You cant afford bankruptcy. If you are on SSI, you are what they call judgement proof. They can not take your SSI. If they do, then you get a lawyer and he will help you sue them for taking your money.
Your credit will get bad, but if you only have Social Security, you can't afford credit.
2007-04-10 11:18:15 · answer #5 · answered by Chris 3 · 0⤊ 0⤋
Social Security is exempt from garnishments. The worst thing that can happen is they will get a judgment and it will show up on your credit for 7-years or until the S.O.L. runs out.
Let them eat cake.
2007-04-10 11:15:16 · answer #6 · answered by ? 7 · 0⤊ 0⤋
Call Legal Aid NOW!!!
If you can't find them, then call your local bar assoc. and tell them your problem.
You need a hired gun.Today, they're called lawyers. And you could possibly get one for free.
2007-04-10 10:55:54 · answer #7 · answered by TedEx 7 · 0⤊ 0⤋