All of our bad decisions are coming to a head. I am 8 months past on 30,000 in debt. One of the five creditors is sueing me. I would file chapter 13 but because my husband makes over the mean for our state I can not afford 633 a month in trustee payments. I have nothing to offer for a settlement. What do I do? If this law suit goes before a judge what can they take from me, I have no assets, no job and I am not a bad person.
If the cards are in your name only then you can be sued, have a judgment issued against you and the judgment will sit and earn interest until you pay it. If you own any asset now or in the future, the judgment might wind up as a lien on that property. For specific ramifications you would need to speak to a licensed attorney in your state.
I’m confused, are you saying that you and your husband would not be able to afford $633 to repay towards your debt? It sounds like you are saying that you alone would not be able to afford the Chapter 13 bankruptcy payment on your income alone. Does your husband not want to help you to resolve this financial problem and avoid being sued?
Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.