nomore760score Posted August 4, 2007 Report Share Posted August 4, 2007 I recently closed my business of 14 years owing $170K in credit card debt.From what I understand, if they sue and obtain judgment, they can garnish wages and seize property. If I have no wages or property in my name, what can they do?If I file chapter 7 in 2 or 3 years, can I include the judgment?I feel like I'm wasting what little money I have sending them payments every month, when it doesn't even cover the interest.ALL HELP will be greatly appreciated! Link to comment Share on other sites More sharing options...
LadynRed Posted August 4, 2007 Report Share Posted August 4, 2007 If I file chapter 7 in 2 or 3 years, can I include the judgment?Absolutely. The debt that causes the judgment will be discharged making the judgement null and void. Link to comment Share on other sites More sharing options...
nomore760score Posted August 5, 2007 Author Report Share Posted August 5, 2007 Thanks for the response.Don't mean to sound ignorant, but if they get a judgment:1) I can't pay it2) I have no wages to garnish3) I have no property in my nameDo I even need to keep making payments? (I can't even make the minimums on most of them) or should I just keep what little money I do have and let them sue? Link to comment Share on other sites More sharing options...
isislc Posted August 5, 2007 Report Share Posted August 5, 2007 Once you file BK your attorney will send out Intent to BK letter and any collections should stop. Keep what money you have. Depending on the laws of your state, if the judgment is found before the BK then you can have it Satisfied due to BK and vacated later or just removed from CR or they will be violating your BK stay status if they seek a judgment during BK. At that point, your attorney can sue them for contempt of court and it will be vacated anyways. Link to comment Share on other sites More sharing options...
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