DodgeRam Posted October 27, 2012 Report Share Posted October 27, 2012 I have an outstanding judgement via Kohn law firm on a Capital One credit card for about $700.00.My wife and I are unemployed and have exhausted unemployment. I do not have the money to pay up. Bankruptcy is inevitable, but not until we find employment. I was served with a notice to go see the "court commissioner". I do not want to go. The notice says to bring, tax return, pay stubs, and last two months bank statements. Do I have to do that? Link to comment Share on other sites More sharing options...
WhoCares1000 Posted October 27, 2012 Report Share Posted October 27, 2012 YES YOU DO!!!!!! This is what they call a financial deposition and not going will result in a warrant for the arrest of you and your wife for contempt of court.In any case, if I were in your situation I would go anyways. You are probably at the point where you are collecting some sort of government assistance (Unless you have substantial savings but if you did, you would not owe $700). I think WI law makes judgements uncollectable if you are receiving government assistance of any type while you receive the assistance and for up to 6 months afterwards.If you could scrape together $200, I would say do not get the money together now but after the deposition, make an offer to settle the judgement. You have just shown that you it is uncollectable AND you are a BK looking for a place to happen. I would give a 50/50 chance that they will take the offer. A bird in hand is better than 2 in the bush.So collect the information, fill out the form, and attend the hearing. That is when they will find out that you are practically judgement proof. Link to comment Share on other sites More sharing options...
DodgeRam Posted October 27, 2012 Author Report Share Posted October 27, 2012 YES YOU DO!!!!!! This is what they call a financial deposition and not going will result in a warrant for the arrest of you and your wife for contempt of court.In any case, if I were in your situation I would go anyways. You are probably at the point where you are collecting some sort of government assistance (Unless you have substantial savings but if you did, you would not owe $700). I think WI law makes judgements uncollectable if you are receiving government assistance of any type while you receive the assistance and for up to 6 months afterwards.If you could scrape together $200, I would say do not get the money together now but after the deposition, make an offer to settle the judgement. You have just shown that you it is uncollectable AND you are a BK looking for a place to happen. I would give a 50/50 chance that they will take the offer. A bird in hand is better than 2 in the bush.So collect the information, fill out the form, and attend the hearing. That is when they will find out that you are practically judgement proof.Thanks... Yes I am getting food stamps. What about trying to scrape together $200.00 now and trying to settle? Will Kohn take $20.00,per month payments? Just trying to get this to go away. Link to comment Share on other sites More sharing options...
1stStep Posted October 27, 2012 Report Share Posted October 27, 2012 Just go and take your unemployment and food stamp info... offer them $50... Link to comment Share on other sites More sharing options...
WhoCares1000 Posted October 27, 2012 Report Share Posted October 27, 2012 No, they will not accept payments. They are going to want it all at once. I was just hoping you could do this to get them off of your back.Just go to the deposition with your proof of food stamp eligibility and unemployment stubs. If you have bank accounts and do not need them for direct deposit for anything, consider closing them. Otherwise, let the bank know that all deposits are exempt funds. Make sure to state that at the deposition too. Just because they are not allowed to take funds does not mean they will follow the law.It seems to me though that if think BK is inevitable, you have worse problems than this. This one is just an annoying fly while you are in the middle of an earthquake. Link to comment Share on other sites More sharing options...
racecar Posted October 27, 2012 Report Share Posted October 27, 2012 I would not bring any money with you to the hearing just in case they play the purses pockets and wallets game.I would do what 1stStep said and offer $50.00 payable in ten days to settle the debt to them. Link to comment Share on other sites More sharing options...
DodgeRam Posted October 27, 2012 Author Report Share Posted October 27, 2012 No, they will not accept payments. They are going to want it all at once. I was just hoping you could do this to get them off of your back.Just go to the deposition with your proof of food stamp eligibility and unemployment stubs. If you have bank accounts and do not need them for direct deposit for anything, consider closing them. Otherwise, let the bank know that all deposits are exempt funds. Make sure to state that at the deposition too. Just because they are not allowed to take funds does not mean they will follow the law.It seems to me though that if think BK is inevitable, you have worse problems than this. This one is just an annoying fly while you are in the middle of an earthquake.I understand... I checked the Wiscosin Statutes, Section 815 executions. I think all my property is exempt. Link to comment Share on other sites More sharing options...
DodgeRam Posted October 27, 2012 Author Report Share Posted October 27, 2012 I would not bring any money with you to the hearing just in case they play the purses pockets and wallets game.Can they do that without a court order? Link to comment Share on other sites More sharing options...
1stStep Posted October 27, 2012 Report Share Posted October 27, 2012 They can in court - if you refuse, your could be held in contempt and either fined, or jailed. Link to comment Share on other sites More sharing options...
DodgeRam Posted October 27, 2012 Author Report Share Posted October 27, 2012 What does JDB stand for? Link to comment Share on other sites More sharing options...
1stStep Posted October 27, 2012 Report Share Posted October 27, 2012 Junk Debt Buyer Link to comment Share on other sites More sharing options...
Torden Posted October 27, 2012 Report Share Posted October 27, 2012 If you believe bankruptcy is inevitable, then do not pay this creditor, or any other. Doing so unequally could be seen as favoring a creditor, and complicating your BK process, if not derail it.I would move forward on the BK and find a BK attorney willing to set up a payment process for you to pay for your BK (though you are likely to qualify for certain discounts or waivers due to your status). "I have hired a bankruptcy attorney" means a lot more in civil court than "I'm thinking about bankruptcy". Once the BK is filed, all creditors must stop. And there are some ways to hold them back before that. Link to comment Share on other sites More sharing options...
Guest usctrojanalum Posted October 27, 2012 Report Share Posted October 27, 2012 Yes, you must attend. The importance of going cannot be stressed enough. Also if you have no money there is no money for them to take. Link to comment Share on other sites More sharing options...
DodgeRam Posted October 28, 2012 Author Report Share Posted October 28, 2012 If you believe bankruptcy is inevitable, then do not pay this creditor, or any other. Doing so unequally could be seen as favoring a creditor, and complicating your BK process, if not derail it.I would move forward on the BK and find a BK attorney willing to set up a payment process for you to pay for your BK (though you are likely to qualify for certain discounts or waivers due to your status). "I have hired a bankruptcy attorney" means a lot more in civil court than "I'm thinking about bankruptcy". Once the BK is filed, all creditors must stop. And there are some ways to hold them back before that.You touched on a subject I would like to pursue. I will make an appointment on Monday to talk to a BK attorney. I have a forclosure pending and arrears of about $20K. My wife and I absolutely want to protect our home. It appears my only choice is a Chapter 13, that would allow me to make up the arrears thru the plan. The obvious problem is the fact that we are both unemployed. That will change, but we need more time. It seems to me we need to be employed in order to put a viable plan on the table, whether it be a 13 or 7. Can I file a Chapter 7 and keep property? If I can file a Chapter 7, how do the arrears get paid? Can I file BK and postpone putting a viable plan on the table?Thanks!!!What can be done to hold those unsecured creditors back? Link to comment Share on other sites More sharing options...
1stStep Posted October 28, 2012 Report Share Posted October 28, 2012 You can file BK, and depending on the circumstances convert... since you are unemployed, it will be tough to come up with a viable BK13 plan.Make sure that if you do go BK13, you can get your attorney to put out a plan where the unsecureds get no more than 5 cents on the dollar. Link to comment Share on other sites More sharing options...
BTO429 Posted October 28, 2012 Report Share Posted October 28, 2012 (edited) No, they will not accept payments. They are going to want it all at once. I was just hoping you could do this to get them off of your back.Just go to the deposition with your proof of food stamp eligibility and unemployment stubs. If you have bank accounts and do not need them for direct deposit for anything, consider closing them. Otherwise, let the bank know that all deposits are exempt funds. Make sure to state that at the deposition too. Just because they are not allowed to take funds does not mean they will follow the law.It seems to me though that if think BK is inevitable, you have worse problems than this. This one is just an annoying fly while you are in the middle of an earthquake.They will if the Judge signs an order saying so. If you are really interested in paying the debt or settling for a certain amount, tell the court,"your Honor I can do one of three things that can get this case over with, I can either offer a 200 dollars payment as settlement in full, or I I can pay 20 dollars per month till the debt is paid, or I can see the court again in the future for BK." If the Judge orders it so they will take what ever the court says they will take.But if you are seriously thinking about BK then you file a motion to stay judgement pending outcome of BK. This will get them off your back. Edited October 28, 2012 by BTO429 Link to comment Share on other sites More sharing options...
WhoCares1000 Posted October 28, 2012 Report Share Posted October 28, 2012 (edited) But is the judge willing to do so after a judgement has been issued. You and I would rather take the $200 in payments knowing that in 10 months, this would be done with. However, how far is the judge allowed to go (I know the judge can break the rules but if this creditor is willing to pay all the court fees over $700, I am sure they are willing to appeal)? This sounds like some hard case lawyer who intends to get his pound of flesh regardless of the cost. You and I would see that this person is BK waiting to happen and would take what we can get and run. This attorney/creditor does not seem to understand that concept.Now WI does have a CH13 like plan for judgements where a judge can force a reasonable payment plan BUT this person has no employment or real income AND they will pay the whole $700 (or at least until they file for a real BK). If they could settle for less, then it would be better for them to get this out of the way. Would give them some breathing room. Edited October 28, 2012 by WhoCares1000 Link to comment Share on other sites More sharing options...
Guest usctrojanalum Posted October 29, 2012 Report Share Posted October 29, 2012 They will if the Judge signs an order saying so. If you are really interested in paying the debt or settling for a certain amount, tell the court,"your Honor I can do one of three things that can get this case over with, I can either offer a 200 dollars payment as settlement in full, or I I can pay 20 dollars per month till the debt is paid, or I can see the court again in the future for BK." Judge really doesn't have the power to do this. All the judge is really there for is to determine whether to money is owed or not. Link to comment Share on other sites More sharing options...
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