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scott
Joined: 28 Jun 2006
scott's page
Posts: 446
10878 Magic Points
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Fri May 16, 2008 6:45 am
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I think that bankruptcy can be filed in all types of loans including cash call loans.
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SCOTT
Use your credit account responsibly and enjoy a debt free life. |
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lollie36
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Subject: Pending Lawsuit
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Thu Jun 26, 2008 4:16 pm
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| If I am being sued for 250,000 and have no debts, my home is in trust with my parents, my bank accounts are joint and I have child support on 2 children. How can you file bankruptcy on something that hasn't been settled yet? and Can they garnish my wages? |
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anthony
Joined: 31 Jul 2006
anthony's page
Posts: 516
13571 Magic Points
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Fri Jun 27, 2008 10:13 am
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Hi lollie
If they have the court order to garnish your wages, they can. But if you file a bankruptcy, creditors can not garnish your wages to recover their debts. However, you should take note of the fact that bankruptcy will remain in your credit report for 10 years and will lower your credit score.
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Anthony Marx
A positive attitude is not achieved by turning a blind eye to the negative, but rather by responding to every situation in the most positive way possible. |
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miranda
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Subject: Bankruptcy
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Sun Jan 18, 2009 2:57 am
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| My mom is being sued for 9,000.00 from a loan company. She was just served papers from the Sheriff is it to late to file bankruptcy? |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3927
10 Magic Points
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scott
Joined: 28 Jun 2006
scott's page
Posts: 446
10878 Magic Points
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Mon Jan 19, 2009 12:33 pm
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Since you have already received a summon from the court, you need to file a response to a summon first within 30 days else a default judgment may be passed against you by the creditor. Now, even if there is a judgment against your mother for garnishment of bank account, you can file bankruptcy if you do not have a discharged bankruptcy within 8 years. However, your mother need to undergo a credit counseling program within 180 days of filing bankruptcy.
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SCOTT
Use your credit account responsibly and enjoy a debt free life. |
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Mary
Joined: 06 Jul 2006
Mary's page
Posts: 686
17396 Magic Points
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Mon Jan 19, 2009 12:49 pm
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Once your mother files bankruptcy, the creditors need to stop all garnishments and further collection of debts. If you qualify for Chapter 7 bankruptcy and your bankruptcy is discharged, you credit report will show "included in bankruptcy" against the debts which are included in bankruptcy and $0 balance.
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Where there's a will, there's a way !! |
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Tracy
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Subject: summons/sued
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Sat Jan 31, 2009 10:14 pm
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| I had a business that folded after 7 months, I still owe an electrician $5,300 and a credit card $30,000. I have no job or money. I have just been handed a summons and am being sued by the electrician, I was thinking of filing for bankruptcy. I s now the time or is it too late to file? Please HELP? Anyone... |
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aby
Joined: 29 Jan 2009
aby's page
Posts: 32
114 Magic Points
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Sun Feb 01, 2009 1:43 pm
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| hey benjamin i think you should tell the exact issue what is the matter so that i can explain in much better way there are many way to get out of this if you are bankrupt and you are sued. |
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scott
Joined: 28 Jun 2006
scott's page
Posts: 446
10878 Magic Points
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Mon Feb 02, 2009 10:20 am
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Hi Tracy
You can file bankruptcy only if you do not have a discharged bankruptcy within the last 8 years. Moreover, you are also ineligible for filing bankruptcy if your bankruptcy petition has been dismissed within the last 180 days.
Now, since you have received the summon from the court, your first step is to file an answer to the summon, else a default judgment may be brought by the electrician which may result in garnishing of your bank account.
_________________
SCOTT
Use your credit account responsibly and enjoy a debt free life. |
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Mary
Joined: 06 Jul 2006
Mary's page
Posts: 686
17396 Magic Points
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Mon Feb 02, 2009 10:26 am
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If you want to file a bankruptcy, you need to go through a credit counseling program within 180 days from the date you file bankruptcy. Even if there is a judgment on your outstanding debt by the electrician by that time, all existing judgments and garnishments will cease to operate once bankruptcy is filed. Since you do not have a job, it means that you can be eligible for Chapter 7 bankruptcy where you may not pay any amount towards the debt. However, whether you are eligible for Chapter 7 or Chapter 13 will be decided over during the credit counseling program.
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Where there's a will, there's a way !! |
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chris shalmi
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Subject: bankruptcy
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Fri Jun 12, 2009 2:42 am
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| ok so i have about 13k in debt and want to know if i should file chapter 7 or 13 i havent been able to pay my biggest debt (which is a car) in 2 years. i am afraid i might get sued at any time. they cant repo the car because it was wrecked please someone tell me what i should do or if its even possible to file for bankruptcy i am aware it is on your credit but my credit is horrible so with this beeing said does anyone know anything that could help my situation i am way to stressed about all this and dont have the money for payments every month. thanks |
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rachael
Joined: 11 May 2009
rachael's page
Posts: 234
6581 Magic Points
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Kelly T
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Subject: Being Sued
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Sat Jul 11, 2009 6:50 pm
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| Can I file bankruptcy to stop the a lawsuit? |
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brad
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Subject: bankruptcy
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Sun Oct 11, 2009 8:12 pm
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| i have no job but need to file bankruptcy |
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