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Debt Consolidation Forums Bankruptcy Chapter 7 and Chapter 13 forums

Can filing bankruptcy help to become judgment proof?

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Can I file bankruptcy and become judgment proof so that the collector can't collect anything from me even if there's a money judgment?

Yes. When you file bankruptcy, it imposes automatic stay on judgment and lawsuits. It eliminates your obligation to pay off debts. But my question is, how much do you owe? Bankruptcy has a strict eligibility criteria. Check that criteria to know if you qualify for it.

Sub: #1 posted on Wed, 07/03/2019 - 23:26

Nick Jonas Nick Jonas

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Which bankruptcy program are you talking about? Chapter 7 bankruptcy or Chapter 13 bankruptcy? Whatever you choose, I would request you to go through the eligibility criteria of it. Because Chapter 7 bankruptcy and Chapter 13 bankruptcy have different eligibility criteria.
For example, to be eligible for Chapter 7 bankruptcy your disposable earnings should be low enough to pass the bankruptcy means test. Whereas in Chapter 13 bankruptcy, you cannot have more than $394,7255 of unsecured debt or $1,184,200 of secured debt.

Sub: #2 posted on Thu, 07/04/2019 - 04:44

Craigh.terry Craigh.terry

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Bankruptcy is a complicated subject. You should talk to a bankruptcy attorney.

Sub: #3 posted on Sun, 07/07/2019 - 22:47

sanderspatricia29 sanderspatricia29

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