chased

Worst case, possible law suit

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I have a CC dept of 20k+ that is at a CA. I am trying to protect myself if they sue me. I have a couple cars that are not worth much in my name, my name is not on the home my wife and I own,I am self employed for one year and the bussiness lost 10K. Also my name is not on any bank acct except the bussiness acct that usually does not have but 1k in it.I don't mind losing the cars in a judgment, and I don't think they can garnish my wages(?). What is the worst case (also the norm) of what can happen? I am thinking that somewhere in time, they will want to settle for less, either before or after they sue. Am I right to think that a judgement is better than BK? I am in Florida.Thanks

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Judgements can stay active for 10 years in FL, and can be renewed for 10 more. Just because they can't get you now, doesn't mean they can't get you later.

You financial situation will almost certainly improve in the next 20 years.

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Judgements can stay active for 10 years in FL, and can be renewed for 10 more. Just because they can't get you now, doesn't mean they can't get you later.

You financial situation will almost certainly improve in the next 20 years.

Agreed....BK will only stay on your record for 10 years and you know what to expect. With a judgement, they can most definately go after your assets...and when you least expect it....say 10 or 12 years from now when your business is doing well. you have money in the bank and you have long since forgot about your judgement....then out of the blue your accounts are siezed.

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Thanks for the info. I am still checking all my options. If I can settle with them for a small amount I will, but otherwise I won't have this hanging over my head for long. I won't post to much specific info because I know that those scumbags watch these boards for info they can use against us if we give out any info that links us to them they would watch everything we say.Maybe I give them to much credit in the intelligence department, but I don't want to screw things up. Thanks for all your help, now and in the future.

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