What happens if we can't pay?
Date: Thu, 07/09/2009 - 16:48
We currently have bill collectors calling on a daily basis along with receiving collection letters in the mail. We have retained an attorney and will be filing Chapter 7 in October. What happens in the mean time if these creditors take us to court and we can't pay them anything? On average we have $30 in our checking account on any given day with no savings. We have to wait until October to file so we can show 6 months of decreased income. We literally have just enough to get by with our living expenses and mortgage and car payments. Attorney said he can tell the creditors we have retained him, but we havenet filed yet. Until we file, they can still come after us. What can they do if we don't have the money to give them?
Thank you
Thank you
Ask your attorney about the creditors getting a lein on your pro
Ask your attorney about the creditors getting a lein on your property. Not all states have the same laws as to what is exempt & what isn't.
Good luck!
If they took you to court, the process could take a bit of time
If they took you to court, the process could take a bit of time - a few weeks to a couple of months. And then, if they got a judgment, they could apply for garnishment, liens, etc. depending on your state. So for now, you should be ok against seizure for your October filing, but you may have to deal with civil court. If they decide to sue, you can stretch things out by getting as close to any deadlines as possible without missing them, file for an extension, etc. There are ways to delay...
