I have 3 ccs that total about 45k that I haven't paid on since August 2008. One that is 15k has not bugged me at all, although I just pulled my credit report and see they run an inquiry every month. The 5k one was sold to Midland. I sent them a validation letter in December and have not heard anything. The other one I get a computer call every day, but nothing in the mail, Never talked to any of them. I get SS and have no other job. I have a vechicle in my name that I could transfer into my husbands name if I was sure I wasn't going to file Chapter 7. We live in Michigan which is a tenancy by entirety state. We have some real estate that is tenancy by entirety but not homesteaded. If I was sure the real estate would be exempt I would file Chapter 7 but do not want to lose it. Any advice out there?
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Not sure about the real estate. Why don't you speak to a couple of Bankruptcy attorneys for a free consultation and get their opinion. As far as judgment proof, the answer is no, but the real question is are you collection proof-in other words can the cc companies collect on a judgement? If your only income is Social Security that should be exempt from them. If you have cash in the bank other than your Soc Sec you may have problems. Again ask an attorney.
As far as transferring the car-that could be looked upon unfavorably depending on the timing of when you did that and your filing. Again ask the attorney. Good luck. -
No one is judgment proof. Collecting on the judgments is wherein the problem lies.All information contained in this post is for informational and amusement purposes only.
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