Re: the lawsuits have been filed...what's next?
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Posted by LadynRed
(199.91.33.254) on February 24, 2003 at 10:41:19:
In Reply to: Re: the lawsuits have been filed...what's next? posted by vic on February 23, 2003 at 13:27:22:
If you're only 3 months behind these accounts haven't even been charged-off yet. Its unlikely that any of them will sue you before that time (6 months of non-payment). Discover will sue very quickly at that point. If you file for bankruptcy, have little equity in your home or car, then you can keep both with a reaffirmation agreement and keep up the payments. It is unlikely you'll lose any of your personal property. There are exemptions for each state for what you can keep. Garage sale prices are used to value your 'stuff'. NO, they won't come into your home and take everything - don't know why people think that anyone can do such a thing.. but this myth seems to prevail. I strongly suggest you do some reading on bankruptcy if you're even considering it. There's a good site at the link below.
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