Re: Court appearance

Posted by J Kelly (68.162.96.106) on January 04, 2004 at 22:10:29:

In Reply to: Re: Court appearance posted by Linda2 on January 04, 2004 at 20:15:44:

First of all don't let the CA's get to you. They will lie and threaten. Mostly they are blowing smoke. Most of us here agree that it is not a good idea to talk with collection agents. Use your caller ID, turn off the ringer, put your machine on fax. Whatever works for you.

I had approximately 10 credit cards, ultimately, I ignored CAs and only one sued. I was legally prepared, and filed Chapter 7. Pre Bankrupcy planning is legal. It doesn't mean hiding assets, it means turning non exempt assets into exempt assets. Your attorney can help with that. Federal bankrupcy law allows up to 15,000 exemption. So, if you don't have more than 15,000 equity in your house, you are ok, you can file chapter 7. The trustee will not be interested in your stuff, furniture, appliances, electronics, clothes. They aren't going to take away your life. So, unless you have some imported paintings worth some big bucks,don't worry. Motor vehicle valued at 2,400 or less is exempt. You won't loose your home or vehicle, if they are financed you can reafirm those debts. You are feeling overwhelmed right now, we have all been there.
This is a very suportive as well as informative place.

I would advise talking with an attorney about bankrupcy. Keep your cool. You have more legal rights than you realize.

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