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retiredy2k · Oct 26, 2009, 11:01 PM

I am currently living in N.Y. and have a large amount of credit card debt. I am receiving phone calls all day and have stopped answering. I have told these people that I am currently living on a government issued disability pension and SSI. I have also allowed my mortgage to go two months behind to try to make payments to these companies. I have decided to not pay any more credit card companies until I have caught up on my mortgage.My question is should I just file for bankruptcy and stop the calls? A friend has told me to don't worry about the card companies and get the mortgage fixed. If the card companies sue me my income will be exempt from lawsuits? Please help.

JudyKayTee · Oct 27, 2009, 06:10 AM

The best person to give you informed advice is an Attorney who is familiar with all the facts and circumstances.

Your SS is exempt. Are you asking about a military pension or a Government employee pension?

If Judgments are obtained against you they can be collected by any means which is legal in your State and that may very well include a lien against your real estate.

twinkiedooter · Oct 27, 2009, 08:18 AM

Pensions are not exempt like SSD is. Your real estate could have a judgment filed against it and if you go to sell your property, the judgment must be satisfied first after the mortgage.

Consult with a good attorney in your area to find out how to proceed.

ScottGem · Oct 27, 2009, 11:17 AM

While your income will probably be exempt from garnishment for credit card debt, your other assets may not be. So your exempt income doesn't mean you can't be sued and judgments obtained.

I would agree that keeping a roof over your head is #1 priority so your mortgage gets paid first.

If a judgment is obtained, you should inform your bank that all your income is from exempt sources to forestall and writ of attachment against your account. Or just stop direct deposit.