Bankruptcy
Date: Wed, 10/21/2009 - 12:05
I am being sued for $30,000. I do not have means to bear this. Should I file a bankruptcy? If yes then what to do now?
Whether to file for bankruptcy, well, it depends. What do you h
Whether to file for bankruptcy, well, it depends. What do you have in assets that you could lose? Would you lose them in a judgment as well as in a BK? Do you have wages they could garnish?
What state are you in? That determines the exemptions. Do you own a house or have other large assets likely to be non-exempt?
Bankruptcy is not a step to be taken lightly, and depending on your circumstances, it could be worse than living with a judgment.