I am a divorced single Mom of a 4th grader. I am being sued by a credit card company for $22,000.00 of unsecured debt. This debt goes back to 2002 approx. and I paid on that credit for 2 years after the last charge. One day, I sent a late payment and I started accruing interest of 29% per month. I stopped paying on the card in 2005.

I have other debt from the same time as well, but lawyers have contacted me on
About $38K out of about $65K.

I have been in touch with an attorney to file Ch. 7. My question is this: I own my home,
And a couple of vehicles and would lose everything if I file bankruptcy. What would happen if these companies obtain judgements against me? My attorney says I am probably "uncollectable" because of my son. Does that status change when he reaches a
Certain age? If the companies obtain judgements, are they paid at the time of the sale of
My home? How long can they stay on my credit report?

Would I be better off for now, letting the judgements be obtained and not filing bankruptcy? If the judgements are obtained now, would they be discharged if I were to
File a Ch. 7 down the road?

Thank you ,

Katydid101

You can discharge eligible debts, or judgments in a chapter 7 bankruptcy so you could file on everything now, or you could wait until they get the judgment, and file on the judgment.

While being head of household will limit how much could be garnished, you can still be garnished if your state allows it.

I believe it is possible for you to file chapter 7, and still be able to retain the house and one vehicle, in most cases anyway.

I would talk to a different attorney, the advice you got from this one doesn't sound accurate to me.

Depending on how much equity you have in your home and cars, will determine if you can keep them or not. So if you for example own a 200,000 home outright and don't owe on it, no most likely you can not file bankrutpcy and keep the house,

Really not enough info to give good answer.

You can discharge eligible debts, or judgments in a chapter 7 bankruptcy so you could file on everything now, or you could wait until they get the judgment, and file on the judgment.

While being head of household will limit how much could be garnished, you can still be garnished if your state allows it.

I believe it is possible for you to file chapter 7, and still be able to retain the house and one vehicle, in most cases anyway.

I would talk to a different attorney, the advice you got from this one doesn't sound accurate to me.


Thank you for your time. I am in the state of Florida, and the statute of limitations is fouryears for this. I am wondering if I should wait to file. After the SOL runs out, do I have to file mot. For dismissal with all of the credit card companies I owe?