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Re: PLEASE HELP ME!!!!!!!!


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Posted by Why Chat (209.240.222.130) on July 03, 2002 at 16:30:12:

In Reply to: PLEASE HELP ME!!!!!!!! posted by jayz on July 03, 2002 at 14:59:23:


I do not know what your long range plans are,or what type of career you are planning. The problem with debt at your age and stage of life is NOT how it will affect you now, but how the choices you make now may affect your future. IF you are sued, you can answer, go into a mediated settlement and try to come to some kind of payment arrangement. This doesn't sound as if it is feasible for you at this point.If you do not plan on staying in N.Y. long term,you can ignore any lawsuit, get a default judgment and live with the results.In 7 years it will have cleared off your credit report. However, judgments can be "activated" that is enforced with garnishments, liens etc. for 20 years in NY.So, at some point you are going to need to deal with it if they do sue you.
If you decide to file ch7 BK NOW,before they have a chance to sue,you will likely have a clearer record in 10 years for jobs and credit and homebuying.There is legal aid available ,probably at your school.


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