Re: Question..please advise!!

Posted by Drew (24.59.25.2) on July 27, 2004 at 11:30:24:

In Reply to: Re: Question..please advise!! posted by julie on July 27, 2004 at 07:57:05:

If you are in the right age demographically and in the right area demographically (great job opportunities), they will probably sue anyways even if you have nothing. The reason is that once they get the judgment, the judgment is good for so many years-usually about ten years depending on state. Judgments can be renewed too. So they would sue for a judgment counting on the fact that you will eventually get a job and buy a home and that is when they will collect.

So being judgment proof will not stop a creditor from suing if they have reason to believe that this down period will only be a temporary phase of your life. If they think you have great prospects of recovering from your financial slump and they will have an opportunity to collect later, they will sue.

So assets, income are only part of the equation. They will also look at your age and where you live.

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