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 Posted: Tue Nov 21, 2006 10:43 am Subject: Judgement Proof. |
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Civil Suit for nonpayment of unsecured debit has been filed. I do not own a home and my vehicle is financed which I am up-side down in value. I have $100 in my bank account. I have thought that filing bankruptcy would be an option but do not have the funds for legal fees. Would the courts declare me judgement proof?
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CShelton
Joined: 21 Nov 2006
Posts: 1
Debtcc Points: 40
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| Posted: Tue Nov 21, 2006 10:55 am Subject: |
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There is no such thing. "Judgment proof" is a non-legal term that means that you don't have any money to collect. However, it is rarely true. If you get a paycheck or a bank account, a DC can get money from you.
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SamGlover
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Joined: 16 Nov 2006
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| Posted: Mon Sep 29, 2008 5:16 pm Subject: credit cards debts |
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i get ssi am i judgement proff.can they take my car 2000 neon
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delorise
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Debtcc Points: 100
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| Posted: Mon Sep 29, 2008 6:41 pm Subject: |
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No they can not the only way to garnish your ssi is for back taxes, student loans, child support. They can not attach your SSI income.
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ladybug
Joined: 29 May 2007
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| Posted: Tue Sep 30, 2008 2:48 am Subject: |
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Delorise, If you own the car and they take you to court and get a judgement against you, the courts can authorize the car to be sold at a sheriff's sale to pay the debtor. If possible, title the car in a relatives name.
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Guest
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| Posted: Tue Sep 30, 2008 8:22 pm Subject: |
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The car has to have a excessive value before the court will order a sale and I don't believe an 8 year old Neon is worth alot of money.
Kelly Blue Book (the car price bible) list it at a value of between $1,500 and $2,400. After all the cost for the sale (which will come out of the money) there will be nothing left.
NOT GOING TO HAPPEN
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cellular
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