Trouble in Texas
Date: Mon, 03/24/2008 - 12:51
about 6 months ago i was put into a situation where in order for me to survive i had to "burn" my credit cards. i knew going into this i was not going to be able to pay off the debt, but it was the only recourse i had for my survival. there was no other way, lord knows how i tried.
my question is what can they do to me? i am homesteaded and on social security disability, my assets are far below $30,000. the phone rings all the time and i am getting collection letters now, i have not answered the phone or responded to the letters.
i understand that eventually they will take me to court and get a judgment, but there is nothing to get. i have no savings, just a checking account that my disability pay is deposited into.
i would have avoided this mess if it had been possible at all, but it wasn't. i tried my best.
can someone tell me what is going to happen down the road to me? thank you.
Well, it would be hard for them to get anything from you, your s
Well, it would be hard for them to get anything from you, your social security is not an attachable income source, they could try to place a levy on your account but all you would have to do is prove that the sole source of funding for that account is your SSI, which would make it exempt as well. If you are that far in debt you may wish to consider speaking with an attorney to see if bankruptcy is right for you, only if you have to though.
You should contact the lawyers that texaslawyer recommends. Go
You should contact the lawyers that texaslawyer recommends. Go to helpingtexas.com and let them know your situation. They will give you a free phone consultation to let you know your options. They spent 30 minutes on the phone with me to answer all my questions.
Pobably not much they can do, even if they sue. Your assets and
Pobably not much they can do, even if they sue. Your assets and income are well within the state's exemptions.
It might be best for you to try some type of debt management age
It might be best for you to try some type of debt management agency that will help you repay the debt in a manageable way.
You might also look into futher assistance with the government such as food stamps or AFDC/TANF. Since you are on disability your medical should be almost fully covered.
thank you. screw the debt management, i am beyond that. it will
thank you. screw the debt management, i am beyond that. it will never be repaid save i am famous.
thank you for being here, now this is the heart of the matter. are they gonna get me in jail or something? i have a very clean record, i found this place when i needed to.
i emphasize i was stuck. there was no other course of action save my own. none. thank you for your responses, trust me as i trust you. i've been reading your site for a while. you are good people.
again, i wish to ask, and trust me this is real.
you people know more than me on this subject, i ask you what are the consequences of what i have done? thank you so much for responding to me, every scrap of info is a very good thing.
Be rest assured the lenders can't put you in jail for not being
Be rest assured the lenders can't put you in jail for not being able to pay off the debts. Defaulting on a loan isn't a criminal offense in USA. Most they can get a judgment against you but thats altogether a different issue.
I strongly believe that everything is going to be alright. None has ever been to jail for defaulting on credit card loans.
since you have zero intentions on even attempting to pay this ba
since you have zero intentions on even attempting to pay this back consider my help exit here.
thank you people for the input. FYI, it is that i cannot pay
thank you people for the input.
FYI, it is that i cannot pay it back. what's done is done, i had to do it.
thank you again, i will just ride this out and try not to worry too much.
If someone has the means and can definitely afford to pay back t
If someone has the means and can definitely afford to pay back their debts then yes, that person should do so. I am pretty certain, however, someone living on SSI can barely afford the basics of life, much less paying back debts. So yes, it would be nice if you were able to pay your debts; however, that might not be a reasonable alternative for you.
Texan, you may want to check with your local Legal Aide office and see if there is something they can do to help. I know some Legal Aide offices do not do bankruptcys; however, it wouldn't hurt to check. If you are going to be on SSI for the duration, then it might be your best option. Check with them, though, and see what they say.
You need to be proactive before a creditor does sue you, though.
Your SSI is exempt from garnishment; however, if a creditor sues and gets a judgement against you, they may go after your checking/savings account. If this is the same account you have your SSI deposited into, then this could be a whole other big mess for you to deal with.
great post Ron! My biggest concern these days is that ten years
great post Ron!
My biggest concern these days is that ten years from now the new SSI recipients are going to have more debt and obligations and will be in worse shape than the sad situation our SSI retired citizens are in today
so many go without heat.. meds .. and food on a daily basis in order to make ends meet..
and the basics of life after retirement
(for most who have worked very hard in this great country of ours)... are a virtual ticking time bomb
..eating?..roof over head.... meds? repaying debt? (when no longer working) maybe intentions would be more than zero if the money was there..if you put intentions in one hand and ability in the other...
hmnnn....I think survival and eating would be the winner!
