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Debt questions?
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Posted by USvET (206.206.93.57) on July 13, 2002 at 09:54:17:
Ok will try and make this brief as possible. I haved debt that has been unpaid since 1996(being the oldest) and one since 1999(the newest). I do not own any assest. I own my own car which I bought and paid for in cash in 2001. From the middle of 1999 until the middle of 2001 I was unemployed. I am a persian gulf veteran and now I have 100% disability from the VA as well as just getting SSI disability. If I would have filled for Chap. 7 BK I would have qualified years ago...but now with my disaibility I make far to much money to qualify. But I do not pay rent and a few other high ticket things( car payments- Med Insur.) After speaking with my lawyer he said I had 4 options....try and file (1) Chp. 7 have it denied (2) File Chp 13 and pay everything off ($16,000 in debt) (3)Give him a sizeable amount of money and he would try and settle with them all for .50 on the dollar and (4) To do Nothing. He said since I have Federal VA and SSI disability they can not garnish my wages...only if I owe student loans or the IRA debt they could...but I do not. I told him I would do nothing for now. And he said I might run into problems later down the road if I did get any assests. They could come and take them. I pay cash for everything I do have...and I do not understand if I had med. bills and 6 years down the road they come and try to take my only vehicle away from me. Is this possible? Does the SOL for taking legal action against me prohibt them from trying just come in my home and want my assest I may one day have? Also if I were to be taken to court on my latest debt (1999) the SOL has not run out yet on it...but what would happen..? a judgement aginst me with the court unable to enforce me to pay because of the Federal disability? I have no records for anything.... so other then about 5 items out of 20 on my credit report I have no proof of the original last payment. I figure the ones not on my credit report are not going to actively pursue anything. And the ones on their only one 3rd party creditor from 1999 has lumped all of 1999 accounts into one can reall viguriosuly come after me. I live in New Mexico(NM) and 4 years from the middle of 1999 is 2003. Someone tried serving me papers but this is my parents house...and my dad said I dodnt live here..and I do not answer the door for anyone. I am afraid if I settle with the ones on my credit report (5 creditors) that the rest will then come after me. Please any help would be appreciated.
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