Re: Credit cards

Posted by ikya (216.99.240.26) on March 12, 2003 at 02:55:17:

In Reply to: Credit cards posted by annie on March 12, 2003 at 02:14:24:

I'm assuming the Discover debt is yours and you don't intend on trying to fight that issue.

They can't get something from nothing. If you are judgment proof, and it appears you are from what you have said, if they win their case against you, and you have nothing, they will receive nothing. It also looks like you might want to look into filing bankruptcy if you want to try to keep your car and get any and all debts discharged. You could also let the car go back and still file bankruptcy. Bankruptcy would stop all suits against you, including the one your talking about. It's a "last resort", but it sounds like you may be at that point. The bankruptcy would stop Discover from proceeding further against you and might help you out on your foreclosure. It's definitely something you may want to look in to.

Yes, a bankruptcy will stay on your records 10 years, but a judgment may very well stay that long also, and the judgment can be renewed, or collected upon at any time after it has been issued. So it could very well stay on your credit report for YEARS and YEARS, past what a bankruptcy would.

I would seek the advice of a bankruptcy lawyer. Most of the time, the initial consultation is free. The fees for filing bankruptcy vary, depending on which you choose to file (chapter 7 or chapter 13) You may also look into filing it yourself, alot cheaper. Do a search on the internet for filing bankruptcy, lots of information out there.

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