Judgement Proof

i don't know about that "judgment proof" comment, but you certainly aren't going to have to worry too much about the debts, i'd imagine. if you keep your SS money hidden away, the creditors cannot garnish any of your accounts, nor can they attach that stipend to begin with.

they can still get judgments, but payback on such judgments would be, obviously, difficult if not impossible for you. the creditors will continue to ask for payments. you can tell them to go ahead and sue because you cannot pay, and let it be. your worst case scenario right now seems to be the annoying phone calls. once they realize you aren't able to pay, they'll turn the accounts over to collections or to a lawyer. speak with whoever that is, tell them your situation and advise them that you're unable to pay. if they sue, so be it. you can't add that stress to the other that you already have.

We have nothing. The Bankruptcy Lawyer we met with wouldn't even take the case. He said they can't put a Lien on You in Florida if you only SS Disability Payments. That is it. After we get it we have nothing left. We just got the Obama Home Loan Mod. for 40 years. At least we are able to stay put for now. I really tried and didn't want to be disabled. I went back to work and got injurred worse. Broke more mones etc. Now I am worse. Don't even drive. The CC Cards already had with Lawyers, Now they are with a Northland Group. Very mean on the phone. Hang up on us all the time. I told them we dispute the balance,. They then dropped the balance to 1/2 and asked us to pay that. We saidf no. We can't. No money. Tried to get us to commit to a minimal amout but again we told them we dispute the balance and it is not right. Put in writing also. Should I give them a copy of our Social Security award? This way they will see how little it is. We can't even buy Meds. Food or even water. We buried our son in 8/08 and that wiped us out. Now nothing. Worse thing for a parent to do. I would do it again to bring him back. We just got our car insurance bill. Due to the bad credit now, it is up by almost 2k. States due to the credit and bad accounts. How long will these be on our accournt? What abuout Bankrupcy. Chapt 7. We have nothing and can not pay. At least this will stop. Do they make you do the Obama plance for the Credit Cards or just let you file bankruptcy chapter 6. The phone call will stop and the letters. The accounts are closed. Are the charges still being added to the balance? We have stripped the walls with things. My husband sold his coin and gun collection. Nothing left of any value. We have the Obama plan now for the house. We will be here for 40 years. That is one thing we don' have to worry about. We had to make the 8-9 trial Loan Payments but at least we get ths housel Thank you for any help you may give me. I apprciate this. We are very sick and disabled. DONNA JACOBS

hi donna,

i guess filing bankruptcy in this situation will be a good option as it will help you in getting a discharge from your credit card debts. once you file bankruptcy, the creditors will not be able to come after you due to the automatic stay. as far as your property is concerned, if you want to save it, you will have to sign a debt reaffirmation agreement with the lender.

it's true that bankruptcy will eliminate all those other debts. obviously, it won't help the insurance situation, since they're looking at your credit to set their prices. of course, there are plentiful other insurance companies. it would benefit you, of course, to shop around for another bankruptcy lawyer. you're in such a state that you need relief as quickly and as large as possible. certainly you can default on all those other debts, but the creditors won't stop calling - it is their job after all.

i know nothing about liens and judgments as far as your state laws are concerned, but i have to say i'm a little bit surprised to learn that you would be judgment-proof due to receipt of social security. i hope, for your sakes, that it's true.

again...investigate your options with a different lawyer. perhaps you'll find bankruptcy available and beneficial to you. i hope so. i feel for you in this predicament.

We have the Obama Loan Mod. Finally after the 8 trial Payments with Chase. We have the house for the next 40 years. As far as anyone putting a lien on our home, they can't in Florida. Our home is homesteaded. We begged a Bankruptcy Lawyer to file for Bankruptcy for us. The phone calls are awful. The collectors keep changing their names when we send a Cease and Desist letter. THe lawyer said we did not need to file. He said we did not need it. Waist of our money. No assets, and the CC can't take our home since we are homesteaded. The CC companies have closed our accounts and made our credit bad. I guess that will stay on our credit for 7 years. Right? Since we aren't needing another home it won't hurt us. Only thing is our car insurance is rated according to our credit. The I.R.S. is the only people that can put a lien on our SS Disability. After SS takes out the Medicare there is not much there. No CC company can touch SS and we have nothing left. Honestly, we have nothing. Nothing to hide. No one but the I.R.S. can touch SS Security Disability. This is why we are judgement proof.
Thank you, DONNA

i understand, donna

my question is can i try to have this judgement taken off my credit report since i was on ssi when the 3rd party collector got the judgement ilive in nebraska

Hi woody!

Welcome to forums!

You can contact the credit bureaus and check out if they can help you in this matter. As far as I know, any negative item will remain on your credit report for the next 7 years.

Sussane

Woody, the only way in which you'll be able to eliminate a judgment from a credit report is if it's not factual. If it exists, the bureaus are correct in reporting it. That you were receiving social security at the time the judgment was entered has no relevance. A judgment is entered based on debt owed, and has nothing to do with what your source of income might be.

An attorney told us we dont qualify for Chapter 7 or Chapter 13. Our only income is government retirement, and social security. Our attorney said it would be judgement proof as long as we didnt deposit any other monies (even interest from bank) into that account. Attorney said to let companies sue us and get a judgment, they couldnt collect and would go away. Is this true? We live in Kansas and our home is homesteaded. On other forums I have read that some creditors freeze your bank accounts maliciously when they know your debt is exempt. Do you agree our money is safe? We have to use direct deposit. Thanks .

Hi Louise!

Welcome to forums!

A creditor will not be able to garnish your social security income or your retirement account. However, if you have any other savings, then the lender/creditor will be able to go after it. If you don't have any other income, then you shouldn't apply for bankruptcy filing.

Feel free to ask if you've further queries.

Sussane

Thank you, Sussanne. What will our creditors do? We have secured and non-secured credit cards. Do you agree we should just wait for lawsuits and judgments? Should we appear in court? Thanks.

Hi Louise,

If you have any other property, then the creditor will go after that in order to recover their dues. You should definitely appear in the court and also reply to the summons if the lender files a lawsuit.

Thanks

My husband had a liver transplant and we filed bankrupt 5 yrs ago . We
rec soc sec and disibility from his last job . we have had to live on credit
cards now he on so many drugs . and now i cant pay these credit cards
i dont know what to do .

I am 63 and on SSI..I have a house with a mortgage of 65K..my car is 20 years old. Am I judgment proof?