Comments on: Bankruptcy Attorney Said I’m Judgment Proof and Should Not Bother With Bankruptcy. – John http://getoutofdebt.org/8223/bankruptcy-attorney-said-im-judgment-proof-and-should-not-bother-with-bankruptcy-john Free debt help and debt advice on how to get out of debt, getting out of debt consolidation scams, and inside information on the debt relief and debt help industry. Fri, 25 May 2012 02:12:00 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: greensboro bankruptcy lawyer http://getoutofdebt.org/8223/bankruptcy-attorney-said-im-judgment-proof-and-should-not-bother-with-bankruptcy-john#comment-27235 greensboro bankruptcy lawyer Fri, 15 Oct 2010 13:16:36 +0000 http://getoutofdebt.org/?p=8223#comment-27235 After reading this I thought it was very informative. I appreciate you taking the time to put this blog piece together. I once again find myself spending way to much time both reading and commenting. What ever, it was still worth it ! After reading this I thought it was very informative. I appreciate you taking the time to put this blog piece together. I once again find myself spending way to much time both reading and commenting. What ever, it was still worth it !

]]> By: Carl Starrett http://getoutofdebt.org/8223/bankruptcy-attorney-said-im-judgment-proof-and-should-not-bother-with-bankruptcy-john#comment-19176 Carl Starrett Thu, 28 Jan 2010 21:58:48 +0000 http://getoutofdebt.org/?p=8223#comment-19176 You do not have to list credit cards that have no balance. However, they will almost always close the accounts once the bankruptcy hits your credit report. .-= Carl Starrett´s last blog ..<a href="http://sandiegobillproblems.com/?p=1" rel="nofollow">Should Christians File for Bankruptcy?</a> =-. You do not have to list credit cards that have no balance. However, they will almost always close the accounts once the bankruptcy hits your credit report.
.-= Carl Starrett´s last blog ..Should Christians File for Bankruptcy? =-.

]]> By: Steve Rhode http://getoutofdebt.org/8223/bankruptcy-attorney-said-im-judgment-proof-and-should-not-bother-with-bankruptcy-john#comment-19174 Steve Rhode Thu, 28 Jan 2010 21:09:23 +0000 http://getoutofdebt.org/?p=8223#comment-19174 Rodrigo, You'd need to include them all in your bankruptcy but if you had one with a zero balance it could be carried through the bankruptcy if you did not have another included card with the same bank. Talk to your bankruptcy attorney about that. Steve Rodrigo,

You’d need to include them all in your bankruptcy but if you had one with a zero balance it could be carried through the bankruptcy if you did not have another included card with the same bank. Talk to your bankruptcy attorney about that.

Steve

]]> By: Rodrigo http://getoutofdebt.org/8223/bankruptcy-attorney-said-im-judgment-proof-and-should-not-bother-with-bankruptcy-john#comment-19165 Rodrigo Thu, 28 Jan 2010 19:59:40 +0000 http://getoutofdebt.org/?p=8223#comment-19165 Just called the plaintiffs attorney asking if I could go in a monthly payment of my debt and avoid judgement being entered, I did not wanted to affect my credit any further ... she said she would prefer judgement to protect her client (Hospital) I did send a hardship letter explaining my situation and the will to pay monthly but she refuse it because it was a "large sum" ... $6,500.00 ... I am seriously filling for bankruptcy ... if I filled for it would my credit cards be taken away as well? ... don't own any debt on them but would like to keep at least one for emergencies ... is that possible? State of Virginia Thank you Just called the plaintiffs attorney asking if I could go in a monthly payment of my debt and avoid judgement being entered, I did not wanted to affect my credit any further … she said she would prefer judgement to protect her client (Hospital) I did send a hardship letter explaining my situation and the will to pay monthly but she refuse it because it was a “large sum” … $6,500.00 … I am seriously filling for bankruptcy … if I filled for it would my credit cards be taken away as well? … don’t own any debt on them but would like to keep at least one for emergencies … is that possible?

State of Virginia

Thank you

]]> By: Carl H. Starrett II http://getoutofdebt.org/8223/bankruptcy-attorney-said-im-judgment-proof-and-should-not-bother-with-bankruptcy-john#comment-18490 Carl H. Starrett II Sun, 10 Jan 2010 15:48:17 +0000 http://getoutofdebt.org/?p=8223#comment-18490 In 2007, I represented a woman who had recently been widowed and was surviving on Social Security. She had about $42,000 in debt, mostly in her husband's name. Other than a $3000 car and the bank account where she received her Social Security direct deposit, she had no significant asset and certainly nothing that a judgment creditor could levy upon. I told her thank bankruptcy wasn't necessary because her property was exempt from her creditor without bankruptcy. I told her that she could file for bankruptcy if she wanted peace of mind, but that I didn't think it was necessary. She opted for the peace of mine. Judgment proof is the wrong term. Lack if assets does not prevent a creditor from litigating to a judgment. You never when someone might come into assets. You aren't likely to win the Lotto, but a relatively might lave you money in their will. Judgment creditors and banks don't necessarily know that all of the money in a bank is Social Security benefits. If a judgment creditor attempts to levy a bank account, the money may be tied up for a few weeks. Bankruptcy may not be necessary, but just be aware of the risks by not filing as well. .-= Carl H. Starrett II´s last blog ..<a href="http://sandiegobillproblems.com/?p=1" rel="nofollow">Should Christians File for Bankruptcy?</a> =-. In 2007, I represented a woman who had recently been widowed and was surviving on Social Security. She had about $42,000 in debt, mostly in her husband’s name. Other than a $3000 car and the bank account where she received her Social Security direct deposit, she had no significant asset and certainly nothing that a judgment creditor could levy upon.

I told her thank bankruptcy wasn’t necessary because her property was exempt from her creditor without bankruptcy. I told her that she could file for bankruptcy if she wanted peace of mind, but that I didn’t think it was necessary.

She opted for the peace of mine. Judgment proof is the wrong term. Lack if assets does not prevent a creditor from litigating to a judgment. You never when someone might come into assets. You aren’t likely to win the Lotto, but a relatively might lave you money in their will.

Judgment creditors and banks don’t necessarily know that all of the money in a bank is Social Security benefits. If a judgment creditor attempts to levy a bank account, the money may be tied up for a few weeks.

Bankruptcy may not be necessary, but just be aware of the risks by not filing as well.
.-= Carl H. Starrett II´s last blog ..Should Christians File for Bankruptcy? =-.

]]> By: Steve Rhode http://getoutofdebt.org/8223/bankruptcy-attorney-said-im-judgment-proof-and-should-not-bother-with-bankruptcy-john#comment-18485 Steve Rhode Sun, 10 Jan 2010 14:28:33 +0000 http://getoutofdebt.org/?p=8223#comment-18485 Minsk, I could not have said this better. I totally agree. Steve Minsk,

I could not have said this better. I totally agree.

Steve

]]> By: minah http://getoutofdebt.org/8223/bankruptcy-attorney-said-im-judgment-proof-and-should-not-bother-with-bankruptcy-john#comment-18439 minah Fri, 08 Jan 2010 22:36:44 +0000 http://getoutofdebt.org/?p=8223#comment-18439 I was told what John was about being judgment proof. It came from a U.S. Trustee's Office debt counselor. Then I got sued. I went to some consumer debt lawyers and this is what they told me, and is in fact the law here in NY and in most other U.S. You can be judgment proof and collection proof. But you can be sued and a judgment can be levied against you, even if nobody can collect on it. It goes on your credit report. It is not legal for an employer to openly discriminate against those who have a bankruptcy but they can and do discriminate more harshly and without reserve against people who have judgments against them. It goes for credit, jobs, renting anything, etc. Judgments seem to evoke that sleazy outlaw in the old pickup truck skedaddling across state lines. Judgments might come off a credit report in 7 or 10 years, but depending on your state, they are collectible for a lot longer than that. In NY, it's 20 years to start with and they can get it renewed! Make sure you know your local laws and options before you decide. Bankruptcy is a last resort but sometimes it makes the most sense. I was told what John was about being judgment proof. It came from a U.S. Trustee’s Office debt counselor. Then I got sued. I went to some consumer debt lawyers and this is what they told me, and is in fact the law here in NY and in most other U.S. You can be judgment proof and collection proof. But you can be sued and a judgment can be levied against you, even if nobody can collect on it. It goes on your credit report. It is not legal for an employer to openly discriminate against those who have a bankruptcy but they can and do discriminate more harshly and without reserve against people who have judgments against them. It goes for credit, jobs, renting anything, etc. Judgments seem to evoke that sleazy outlaw in the old pickup truck skedaddling across state lines. Judgments might come off a credit report in 7 or 10 years, but depending on your state, they are collectible for a lot longer than that. In NY, it’s 20 years to start with and they can get it renewed! Make sure you know your local laws and options before you decide. Bankruptcy is a last resort but sometimes it makes the most sense.

]]> By: Jeff Jackson http://getoutofdebt.org/8223/bankruptcy-attorney-said-im-judgment-proof-and-should-not-bother-with-bankruptcy-john#comment-16478 Jeff Jackson Fri, 06 Nov 2009 17:28:12 +0000 http://getoutofdebt.org/?p=8223#comment-16478 John, You may not be judgement proof, but may be collection proof. Your disability income is protected, provided it is the only source of income in your bank account. If it is co-mingled with other monetary assets it becomes a little riskier. Another thing to consider are what other assets you have. A judgement to collect a debt may afford garnishment of your bank account (which may be protected) or it could result in a lien placed on real or personal property. We have told people in situations similar to yours that they are collection proof and filing bankruptcy is probably not in their best interest considering the cost vs the benefit. But we also identify their assets to make sure. You need to protect yourself and make sure you can continue to live, as Steve said, put $15,000 away for yourself. Consider calling other local bankruptcy attorneys in your area and see if you end up with the same answers from a bankruptcy perspective, and make sure you disclose any assets that may be at risk. Best of Luck Jeff John,

You may not be judgement proof, but may be collection proof. Your disability income is protected, provided it is the only source of income in your bank account. If it is co-mingled with other monetary assets it becomes a little riskier.

Another thing to consider are what other assets you have. A judgement to collect a debt may afford garnishment of your bank account (which may be protected) or it could result in a lien placed on real or personal property.

We have told people in situations similar to yours that they are collection proof and filing bankruptcy is probably not in their best interest considering the cost vs the benefit. But we also identify their assets to make sure.

You need to protect yourself and make sure you can continue to live, as Steve said, put $15,000 away for yourself. Consider calling other local bankruptcy attorneys in your area and see if you end up with the same answers from a bankruptcy perspective, and make sure you disclose any assets that may be at risk.

Best of Luck

Jeff

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