I am financially ruined. can anyone help?
I recently lost a court case and the other lawyer is coming after me for attorney fees and court costs. It could total over $70,000.
I was told by lawyer that if that happens, I could file for Chapter 7 bankruptcy….. but six years ago I had to file Chapter 7 due to an illness. Now I understand that the new bankruptcy law changed it to 8 years. So I can’t file one until 2009.
SO what happens when they get a judgement against me? Will they come after my property, home and garnish my wages????
August 31st, 2008 at 1:12 pm
Does it help to comisserate?
‘Cause I can do that.
September 3rd, 2008 at 8:53 am
In the courts, everything moves slowly, so you may have time to file.
September 5th, 2008 at 4:30 am
Not me… I’m broke.
September 7th, 2008 at 12:20 am
Brazil calling? or Israel?
September 10th, 2008 at 7:48 am
I am so sorry. Well you cant really do much if they take your property, home, wages, and whatever. The fact is, you cant really do much about it. I have to be honest, your really in a pickle. But I can give you a piece of advice if this would g-d forbid happen to you. You can call close friends and family and let them know your situation and then ask them for a loan of some sort or make sure that if you do loose everything that belongs to you, you have somewhere to run to. I would suggest getting a job as a cashier at walmart. Thats a start, then you slowly pay off debt and get back on track. The only thing to do is pray. Good Luck!
September 11th, 2008 at 12:28 am
It depends on the state in which you live. There are assets you have which are exempt from execution, and these vary from state to state. Typically the equity in your home is exempt to a certain amount. In Texas wages cannot be garnished, but in most other states they can. Stocks, bonds, accounts are all subject to execution. Get with a bankruptcy specialist, you may still qualify for a Chapter 13 proceeding.
September 13th, 2008 at 11:00 am
Don’t beg for money.
September 14th, 2008 at 9:01 am
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September 15th, 2008 at 6:07 pm
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Good luck
September 17th, 2008 at 7:08 am
Find someone specializing in “asset protection”.
Before you call the lawyer read in the Internet about what anyone can do to protect one’s assets.
Find out what states protect your home from seizure and consider moving there.
Some people use converting some assets into the assets that can be placed away from discovery.
There are many ways to protect your assets.