Re: Financial Advisor advised to Default - Opinions?

Posted by Lissa (63.97.16.211) on July 13, 2002 at 12:31:35:

In Reply to: Re: Financial Advisor advised to Default - Opinions? posted by Why Chat on July 10, 2002 at 08:19:33:

In response to all,

I live in South Carolina - I am not sure what the exact laws are for judgements.

The debt is soley in my name and there was no mention of it in the divorce/separation.

He advised against Chapter 7 because I don't have anything. He said that people are typically required to sell 'excess' in order to pay toward the Chapter 7 agreement. I have no excess. I have no way of earning enough to account for payments.

As far as the judgements go, he said that most companies would just go ahead and write it off if they see that I truly don't have anything.

I am in a situation where I am going to have nothing except 3 kids, a few pieces of second-hand furniture, and a van I am borrowing from a friend. My husband is a business owner who is going to have his boat, motorcycles, two vehicles, etc. all because of that very reason - I have nothing. I don't even have the $1500 to hire a lawyer to fight for anything.

Follow Ups:

Post a Followup