Re: CC and my dad can't pay-meant to post the prior as a follow-up

Posted by J Kelly (151.197.46.2) on May 13, 2004 at 17:36:01:

In Reply to: Re: CC and my dad can't pay-meant to post the prior as a follow-up posted by daddy's girl on May 13, 2004 at 16:50:14:

OK here are the exemptions in bk and judgement. If he owns a house, he might have to get the house out of his name. Alabama only allows for 5000.00 exemption. NOW IS THE TIME TO PROTECT ASSETS. This is what will happen when he stops paying. The account will go to inhouse collections. He will receive phone calls and mail from in house collectors. They will start off as reminders and get progressively more demanding and even threatening. After 180 days (6 months) the account will be charged off. At that time it will either be assigned or sold to a CA. These CAs will harass and threaten without mercy. If they think your dad has attachable assets, they might sue him. That is why he needs to protect assets now. You know what his assets are, house being the biggest and most obvious. If he does not own a house or mobile residence with at least 5000.00 equity in it, then there probably is not much they can do even if they do sue him. He will be considered judgement proof. That simply put means that they can not seize any of his assets because they are exempt. There is absolutely no reason for your dad to continue to pay on unsecured debt if it means going without needed medicine or medical care, or food, or shelter. He needs needs to take care of his basic needs. My advice would be to PROTECT ASSETS NOW. Stop paying on the credit card, don't talk to collectiion agents, they WILL upset him. He doesn't need the stress. CLOSE YOUR CURRENT BANK ACCOUNT. Have Social Security send his check to his residence. Open a differenct checking account (NEVER let CAs to get his banking info) with someone else as primary, a spouse or maybe you. Any extra money should be kept in a safe place. Once you have protected assets, and changed your banking info. IGNORE THE CAS. Chances are very good that your dad will not be sued because they will be looking for assets that they can seize, and if they don't find anything...........they will move onto easier targets. It does cost money to file a law suit, filing fees and attorney fees for them. Consider that they deal with thousands of accounts, it is to expensive to sue everyone, so there must be some crieteria for them to sue. The crieteria is the consumer's assets. What can they collect? If they can't find assets, no bank account, can't garnish.........they can't collect. The most important thing here is to protect your dad from the harrassment. This is what I would do (If possible) have the phone disconnected (make it look like he moved) reconnect the phone in your name, unlisted with caller ID, Of course. That will protect him for awhile. The reason I am saying this is because your dad sounds like the type to worry a lot, and maybe believe some of the things the CAs say to him. I do believe it is very very important to protect your dad from CAs verbal abuse. They are nasty lying scum. Sorry to say that, but that is the way it is. They don't care if he goes without his medicine, or even food.
http://www.bankruptcyaction.com/alexemptions.htm
Good Luck. You are a good daughter.

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