Ask Experts Questions for FREE Help !
Ask
    bernabela's Avatar
    bernabela Posts: 1, Reputation: 1
    New Member
     
    #1

    Jan 1, 2007, 08:15 PM
    Judgment Proof
    I am 90 years old from Nevada and don't own anything. I am receiving a small pension and Social Security and have two credit card debts totalling $17,000, which was incurred helping family. I can no longer afford to pay even the minimum payments of these cards. Am I judgment proof? Thank you.
    s_cianci's Avatar
    s_cianci Posts: 5,472, Reputation: 760
    Uber Member
     
    #2

    Jan 1, 2007, 08:40 PM
    I doubt that you're "judgment proof" ; nobody really is. Now, collecting from you may be a different matter. As the old saying goes, you can't get blood out of a stone. Your pension may be subject to garnishment, up to a certain percentage of the net amount. I'm not sure about Social Security. You may want to speak with an attorney about your level of potential liability and what your best options may be in protecting your interests. You also may want to consider enlisting the services of a credit counseling agency such as Profina. They work with your creditors and may be able to arrange a payment schedule that you can manage without the fear of them pursuing litigation against you.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #3

    Jan 1, 2007, 09:31 PM
    Yes, there is no such thing as judgement proof, they can always sue you, take you to court and get a judgement, but as mentioned collection it will be another issue. If they get a judgement they can attach any bank accounts, so you will have to not keep any money in the bank, and not get your social security or pension direct deposited, once it goes in the bank they can get it on the attachment, so you will have to get the checks physcailly mailed and not deposited in the bank.

    But also as noted a credit counseling or even bankruptcy is a option

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Am I judgment proof? [ 7 Answers ]

Well here's my situation, I'm 19 living with my parents still I don't work and won't probably find one anytime soon so I don't have any sort of income or assets, most of the stuff in the house belongs to my parents the only thing I own is a computer which I built myself a bed and a TV which which...

Judgment [ 1 Answers ]

I have been threatened with a judgment from a bad credit card debt. I did try to work out a payment plan but they wanted to take it directly from my checking each month and I did not want them to have my account number. I wanted to send a cashier's check. I do not own my home and I am in...

Judgment Help [ 9 Answers ]

Ok so I had leased a car a over 10 years ago. I was reposessed and I had a judgement on me for 10 years The judgement was removed about 6 months ago. The company who filed that judgement went bankrupt and an Bankruptcy lawyer is trying to collect the money I had a letter left on my door demanding...

Can they get a judgment against me? [ 1 Answers ]

OK I'm on s.s disability got behind On credit card. Now I'm getting all Those calls. Can they put a judgment Against me. I own nothing

Judgment/Ch 13 [ 6 Answers ]

I have judgment for 1400 on credit report. This amount was discharged in BK13 but my atty failed to make a motion to have it dismissed when at my hearing and hence, it remains on on my credit report. To get it satisfied, I apparently need to pay 1400 plus atty fees and interest from 2000. One...


View more questions Search