I am trying to avoid bankruptcy and I am planning to use the “do nothing” option. I want to make sure I am

judgement proof, that I cash in for all I can on my large access to unsecured credit and most importantly , that I do not break any laws or get myself into any trouble. I live in North Carolina. Any suggestions?

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3 Responses to “I am trying to avoid bankruptcy and I am planning to use the “do nothing” option. I want to make sure I am”

1. magy Says:
   August 27th, 2009 at 11:32 am

   WHY would you do that? Letting things go into collections and not working to solve the issue is WORSE than just claiming bankruptcy. And you plan to ‘cash in’ for all you can? Basically you’re telling us you plan to steal as much as you can from the credit card companies- shame on you. Get your act together,m dot the responsible, moral thing- STOP charging, work to pay off your debts. What you describe makes you sound scuzzy and low life.

2. G N A Says:
   August 30th, 2009 at 12:03 am

   One thing you should know about your ‘plan’ – everyone that files for bankruptcy are not automatically relieved of their debts. It can be invalidated by the very steps you are taking because a bankruptcy judge will see that you deliberately attempted to scam the system and went overboard right up to filing.

   Get ready for the bankruptcy court to set aside your claim of indebtedness.

3. Lesley Says:
   August 31st, 2009 at 5:55 pm

   You do realize you have to live like a complete loser to be judgment proof right? Eventually you’ll qualify for no credit because of the fact you rack up debt and fail to pay it, no one will give you credit cards anymore. To be judgment proof you can’t make more than minimum wage and you can’t have any assets in your name or any funds in any banks to garnish. If you buy things with a best buy or sears credit card, guess what? They are secured debts and they can take the stuff you purchased away. You don’t get to keep a car without paying for it. All you’ll do is make your life very unpleasant to live.

   If you were to file bankruptcy after doing this, you could be convicted of bankruptcy fraud and spend some time in federal prison. And Judgments typically are enforceable for 10 years and renewable for another 10 years, so you’d have to spend a really long time living like a homeless person because you want to avoid paying debt.

   I’m not sure that doing that even would keep you from violating laws or not. I know nothing about North Carolina law. But you’re not going to enjoy life living that way unless you like having nothing.

   And if you think you can work under the table to have extra money, keep in mind your creditors can make you turn over any cash you have on you at court, if you don’t show up at court they can get a warrant and have you pay the debt that way (via the bonds set for the warrants), plus once the irs finds out, you’ll have the IRS on your tail.