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Judgement Proof - Now What?
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Posted by arbelly68
(64.113.166.81) on November 24, 2002 at 18:00:59:
Is there a step-by-step guide for those of us who are judgement proof? I was told by an attorney, when my credit problems first started, that I am judgement proof. I now have a year left before my 7 years expires.
What should I plan to do?
I know I will be getting a bunch of 1099's, is there anything I can do with these?
After the 7 years run, should I begin negotiating with CA's/original creditors to settle the charge-offs, open accounts, etc.? Also, I have one judgement against me, should I negotiate this judgement or just let the 10 years expire, which would be another 3 years? (I feel this would be the best time since I really have nothing to lose.)
Should I get a secured credit card now (to begin reesstablishing credit) or wait for the 7 years to expire?
If I get a secured credit card, the kind where I put my own money down as security (say $500), can CA's come after this type of secured credit card? Any other suggestions? Thanks!
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