Lets say someone sue me for several millions of dollars. If I dont have the money, say I am a busboy earning 1500 a month, how am I going to pay? Where is the money going to come from anyway?
2007-08-08 00:21:17 · 10 answers · asked by mefistofeles 1 in Politics & Government ➔ Law & Ethics
Ahh, Filing bankruptcy does not stop court ordered judgements.
IE: you get sued, a judge awards the sue'r money.
Filing bankruptcy will not relieve you of that debt.
The bankruptcy court doesn't have the authority to over turn another court's judgment.
2007-08-08 00:56:39 · answer #1 · answered by jeeper_peeper321 7 · 0⤊ 2⤋
If they get a judgement then the next step would be to go to court again and get your wages garnished, which means a certain amount, up to 25 percent will be taken out of your paycheck each time...if that happens you should file for chapter 13 bankruptcy and it will immediately stop all garnishment and any other collection actions and all your debt and you will just have to make small monthly payments that you can afford for a period of 5 yrs or so and after that the debt will be written off, except for things like your mortgage debt, ect.
2007-08-08 07:25:33 · answer #2 · answered by sweetgirl 4 · 1⤊ 0⤋
First off, you won't get sued. Attorneys only go after deep pockets. However, if you are getting sued by somebody who doesn't care, and wants to throw money away at an attorney, then you can just file for Chapter 7 Bankruptcy.
After checking that you don't own any significant assets your bankruptcy will be approved by the court, and all the debts you list will be eliminated.
In the end, your credit will be messed up for seven years, then you will have to rebuild it.
2007-08-08 07:31:45 · answer #3 · answered by Mark L 3 · 1⤊ 0⤋
They can garnish your wages for the rest of your life. But then, your response is to file bankruptcy.
Usually someone sues you, knowing they will get some kind of money out of you. If you have no money, then why would they sue you? The party suing would be wasting their lawyers fees for nothing. And, people don't usually like throwing their money away unless you really upset them.
2007-08-08 07:26:28 · answer #4 · answered by brian c 5 · 1⤊ 0⤋
filing bankruptcy does get rid of judgments against you filed in state court. bankruptcy is a federal law not a state law. it is the same no matter what state you are in. if you get a judgment you can list it on your bankruptcy and you will no longer have to pay it unless it came from a DUI or some kind of criminal behaviour.
2007-08-08 09:43:51 · answer #5 · answered by Fun N Sun 4 · 0⤊ 0⤋
you might want to check the validity of the suit.(who called you,what the suit is for,etc.)i have a suit filed against me and i have talked to several people about it and found out i am dealing with scavenger debt collectors.check all your resources.does the plaintiff have proof?(bills,photos,etc.)also,ask yourself"is there any reason why i would be sued?" for example,you broke my nose and i sue for medical bills,that would be one thing.but if i called 10 years later saying you owe me 1,000$,you would probably think,"why now?"
2007-08-08 08:46:48 · answer #6 · answered by clntn_23 2 · 0⤊ 0⤋
You get a judgment against you that is never satisfied. You owe the money until you die, if the plaintiff remembers to renew the judgment.
2007-08-08 07:27:30 · answer #7 · answered by regerugged 7 · 0⤊ 0⤋
Just because there suing, dont mean they automatically going to win.....except if you do nothing.........
2007-08-08 12:30:16 · answer #8 · answered by DennistheMenace 7 · 0⤊ 0⤋
Lets say you can not pay.
and nice story
2007-08-08 07:23:45 · answer #9 · answered by Anonymous · 0⤊ 2⤋
lets say--- your insurance company will pay.
2007-08-08 07:24:16 · answer #10 · answered by hiba 6 · 0⤊ 2⤋