BK or Wait?
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Posted by Ryan
on March 09, 2002 at 19:04:18:
This is my situation. I live in California and have managed to rack up at least $90,000 in debt from Credit Cards and one default auto lease. I have Zero assets, no checking account since I only use cash and prepaid mastercard and right now unemployed,just going to school currently. Its been over a year since I haven't been able to make payments on my credit cards. So far Providian is the only issuer who has sued me and put a judgement on my record for over $11,000. The others such as AMEX have threaten to sue yet haven't. Maybe because they discovered I havent nothing of value for them and no big income to take from. My Question is, should I file for Bankruptcy down the road (When I have a job to pay for the BK Fees) or wait it out? How long does a Judgement last in CA? Can they re instate it after so many years? Is BK a better soultion just in case they do? I don't want to have this hanging over me the rest of my life. Im only 26. Its bad enough I got myself in this mess. What road should I take? Wait it out or Better,safe than sorry do a BK so I can have credit again someday?
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