Re: Part 2: Assessing likelihood of credit card companies filing lawsuits
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Posted by Why Chat (209.240.198.61) on June 29, 2003 at 09:59:53:
In Reply to: Re: Part 2: Assessing likelihood of credit card companies filing lawsuits posted by scott on June 29, 2003 at 01:31:08:
Scott, if someone "runs up credit" with an INTENT to default, NO advice will help them, as it is CRIMINAL FRAUD. However, if someone has had a problem that has reduced their income, there is nothing illegal or fraudulent about checking out their options for getting out of payin their debts. Sometimes, in some circumstances, it is better to absorb one or 2 judgments, then to declare BK. If a person can hang on to SOME of their credit, and default on others, and if they are exempt from loss on a judgment lien,but would be vulnerable in the "full disclosure of all interests and pending actions" in a BK filing, they may be better off with the judgments.
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