I live in Georgia and expect to have to live with a series of credit card lawsuits, judgments and wage garnishments for the next few years.
Reason being is that I just got a new job before my BK so I no longer qualify for a Chapter 7 - and a Chapter 13 seems like it has no value for someone like me with no assets.
I know that the statutes of limitations in Georgia is as follows:
A - Credit card debts - 4 years
B - Civil judgments - 7 years
C - Judgments can NOT be renewed
So - my questions are this:
In my worst-case scenario - a creditor could win a judgment award after 3 years and 11 months and have that hanging over my head for possible wage garnishment and asset seizure for 7 more years (or until the judgment is paid in full).
IS THIS ASSUMPTION CORRECT?
Reason being is that I just got a new job before my BK so I no longer qualify for a Chapter 7 - and a Chapter 13 seems like it has no value for someone like me with no assets.
I know that the statutes of limitations in Georgia is as follows:
A - Credit card debts - 4 years
B - Civil judgments - 7 years
C - Judgments can NOT be renewed
So - my questions are this:
In my worst-case scenario - a creditor could win a judgment award after 3 years and 11 months and have that hanging over my head for possible wage garnishment and asset seizure for 7 more years (or until the judgment is paid in full).
IS THIS ASSUMPTION CORRECT?
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