I am wondering if I should file BR. I have been lurking for a while. I have learned so much from you guys. What I have discovered, is that, in Texas, my house, two cars, and pretty much everything I own is exempt from being collected on in judgement. They can't even garnish wages. They could collect on my bank account, but we can easily go to an all cash system of doing things. It's not that much trouble to go get money orders for all of the bills a day after DH gets paid. His work will pay him on a debt card that is not linked to our bank account. It is basically a rechargable Visa gift card through Bank of America. It just seems too easy to just not pay the cc bills and go on with our lives.
So, if you have nothing they can get, will cc companies bother to get judgements?
What should I do if a cc company sues me? Should I file something to keep them at bay? How long could I hold them off? Could I just ignore the suit and let them get judgements against me since Texas protects pretty much all I have?
If they get judgements and you have nothing for them to get, what happens? Does it go on your credit? If so for how long?
If they get judgements, can you file BR and get the judgements lifted?
I am so confused. It seems so much easier to NOT file. I would like to wait as long as possible b/c we have very few financial records. We have tax returns for the past 10 years. We have some back bank statements. We generally shred cc bills after paying them b/c everything is done online and is recorded in my bank records. It seems like if I just let everything go and file in a couple of years, I would have had time to save records and get them in order. My debts would be older so cc companies might have less reason to contest or whatever. They might even have sold them off by then. I'm still not sure what to do. We had planned to file in about a year, but I still don't know if we should.
My biggest worry is a loan I took with Capital One. It was a few months ago and was a medical loan for $16,000. I had every intention of repaying it. I paid one payment, lost a large part of my income and cannot pay them now. I don't want them to come after me for fraud if I file BR. It seems like if I wait as long as possible, it would be really difficult for them to have a leg to stand on.
So, if you have nothing they can get, will cc companies bother to get judgements?
What should I do if a cc company sues me? Should I file something to keep them at bay? How long could I hold them off? Could I just ignore the suit and let them get judgements against me since Texas protects pretty much all I have?
If they get judgements and you have nothing for them to get, what happens? Does it go on your credit? If so for how long?
If they get judgements, can you file BR and get the judgements lifted?
I am so confused. It seems so much easier to NOT file. I would like to wait as long as possible b/c we have very few financial records. We have tax returns for the past 10 years. We have some back bank statements. We generally shred cc bills after paying them b/c everything is done online and is recorded in my bank records. It seems like if I just let everything go and file in a couple of years, I would have had time to save records and get them in order. My debts would be older so cc companies might have less reason to contest or whatever. They might even have sold them off by then. I'm still not sure what to do. We had planned to file in about a year, but I still don't know if we should.
My biggest worry is a loan I took with Capital One. It was a few months ago and was a medical loan for $16,000. I had every intention of repaying it. I paid one payment, lost a large part of my income and cannot pay them now. I don't want them to come after me for fraud if I file BR. It seems like if I wait as long as possible, it would be really difficult for them to have a leg to stand on.
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