Second suit is coming in quick.

[optimistic1]

Got another letter today from local firm.
Did a quickie search for plaintiff = Equable Ascent Financial, LLC, several pages of recent suits. Im still on a paperwork search at this point, but I have almost everything, cant wait until I get some protection.

My advice for peeps trying to hide out like I did, you can save yourself lots of heartache and stress, and just file as soon you can, dont BS around, swallow your pride and just file, there is no other way.

[flyinbroke]

Got another letter today from local firm.
Did a quickie search for plaintiff = Equable Ascent Financial, LLC, several pages of recent suits. Im still on a paperwork search at this point, but I have almost everything, cant wait until I get some protection.

My advice for peeps trying to hide out like I did, you can save yourself lots of heartache and stress, and just file as soon you can, dont BS around, swallow your pride and just file, there is no other way.

Yeah but how long did you hide for?

[albacore44]

I agree with the part about the inevitable. But each situation is different, I waited to put as much time between my sins and filing as possible. that is why my case will be so smooth, less chance for an adversial to be filed. but as soon as the real Law fims come knocking, you know the Jig is up.

[espo1357]

You have to stop the bleeding, or they are going to take advantage of you.

At first, I just ignored the lawsuits. Bad move. Anyway, what got me was when one of the ccc's wanted to not only sue for the balance due, but also tack on some interest. That just floored me. Now, I have a lot of pride, and filing was something that I did not consider (no knowledge at the time).

But, now that I have filed, I sleep better. I feel better. As importantly, my financial future in brighter.

Also, consider a living trust as well, if you can afford it and you have some assets. Legal protection is important and never to be overlooked.

There are demons running around this world, in case you haven't noticed.

[optimistic1]

True albacore there are clear advantages, mine was unique and was worth waiting for, it insures a successful Chapter 13.
@flyingbroke, I wish I lived in TX, I would hide out forever, you are lucky!

[flyinbroke]

I imagine they still sue down here. Chase is bad, from our court docket....they sue at the drop of a hat. GEMB rolls over and dies if you answer but they have not filed a suit here since the beginning of 2009 (they used to file a lot of them around '05-06).

I am with Albacore. I am probably going to have to file, but want as much time between my sins and pushing the big red button as I can get. Optimistic, you and Albacore got some serious hang time and that is what I aim for. I needed to change my W-4 which is going to take a HUGE bite out of my paycheck, which changes the 13 as well (my retirement taxes doubled when I changed it...my salary check is going to suck.)

[GoingDown]

Each case is different.

Most of my charged off credit cards have now gone over 5 years without suing me. Some are now approaching the 3rd year after charge off, and have not bothered to sue me yet.

They will all soon be beyond the statute of limitations. At this point, it would be a waste of money and time and effort for me to file bankruptcy.

I will simply respond to any lawsuit they file with an affirmative written defense that the debt is time-barred, and then I will win the lawsuit.

My guess is that at this point, none of these time-barred debts are going to bother filing a lawsuit against me. But they will probably call from time to time. Which is easy to stop.

The only one that sued me was a tiny CrapOne credit card, and they sued within just a few months after I stopped making payments. They have seemingly given up on this judgment. I haven't heard from them in years. And now their judgment is past the Arizona statute of limitations for judgments-- 5 years. So it is worthless.

I don't know what kept me from being sued most of the time, other than I told the debt collectors that I was judgment proof and I explained to them exactly what I meant so they knew for sure that I wasn't lying about it and any lawsuit would be a waste of their money and time. And my credit report has been completely inactive this whole time. I did not apply for any credit. And I did not apply for any job that would check my credit report. I think that helped me a great deal. The credit report looked like I was not using any credit or paying for anything. And I think it helped when I sent them the Cease and Desist letters making it impossible for them to contact me. I refused to speak to them on the phone. They knew that there was really no hope of collecting anything from me. I knew the law, I wasn't scared of them, and I wasn't afraid of lawsuits because I knew they couldn't get anything out of me, and I told them so in writing. I think that made all the difference in my case.

Most people can't do that. They have assets to lose, or wages to garnish, and they aren't willing to live like I live. But for those who can just sit back and wait them out, you may not have to file BK. And if you are waiting to file BK to put some serious time between your filing and your credit purchases, this is one way to do it.

[maxwell18]

info

Just wondering what makes you judgement proof. The reason I ask, I am going down the same road but just started. My income is Mil retirement, VA disability and Social Security. House is 120K underwater, car upside down and no real assets other household furniture and cloths.
Thanks

[DYLAN150]

Max: I hear alot of people say they are judgment proof but I believe they mean collection proof. = Your creditor has no legal way to collect the debt.

[ryan]

Going Down: am I to assume you you don;t even have a checking account or anything like that for creditors to grab?....no job wages to garnish? Is that what you mean by "Judgement Proof" ?

[WhatMoney]

Just wondering what makes you judgement proof. The reason I ask, I am going down the same road but just started. My income is Mil retirement, VA disability and Social Security. House is 120K underwater, car upside down and no real assets other household furniture and cloths.
Thanks

What makes one "judgment proof" (aka collection proof/aka execution proof/aka "you can try to take my assets but you'll have to give them back", is your State's exemption list. If everything you own/receive is listed on the exemption list they can't legally seize it. If you are working they can garnish up to 25% of your wages in most States, but there are low-income restrictions to wage garnishment too. It's all listed in your State's civil code.

You appear to be "judgment proof". Creditors go after wages, bank accounts, and autos and homes with equity, in that order. They don't want your "stuff".

[flyinbroke]

If you live in Texas, NC, SC, or PA wage garnishment is not allowed unless you owe child support or taxes. Bank accounts can be fair game though.

[GoingDown]

Going Down: am I to assume you you don;t even have a checking account or anything like that for creditors to grab?....no job wages to garnish? Is that what you mean by "Judgement Proof" ?

People worry too much about whether it is called judgment proof or collection proof. They are really the same thing.

But since debt collectors know that I am collection proof, they usually don't bother trying to get a judgment against me, so in that sense, I guess you could say I am judgment proof.


My home is rented. I don't own any real estate. I don't intend to ever own any real estate. I like to be able to move around to get away from bad neighbors and stuff like that.

My only vehicle is currently worth less than $5,000 (according to the Kelly Blue Book) which is exempt under Arizona law. It's not new and pretty, but it gets me where I want to go.

I don't have a checking account. No savings account, no investments. Which also means no fees for bouncing checks, etc.

I use cash, money orders, and pre-paid Visa cards for everything. I find that I spend far less when I have to hand over cash to some cashier at a store or restaurant.

I do temp jobs that last for no more than a month or two at best. Most last less than one month. By the time they started garnishing wages, the job would be over, and I would be moving on to a different job. I get these jobs at a free job service which posts temporary job listings in my area. A lot of people aren't willing to work at temp jobs, but they are good money (as long as you live cheaply) and they give me flexibility to go on lots of vacations to places like Oregon (to visit relatives) whenever I feel like it. I'm not tied down to job. To be honest, I don't think I could handle a regular job that went on month after month, year after year. It would be horrible for someone like me.

The other things I do are self-employed things that are very difficult (and time consuming which is expensive for lawyers) for any creditor to figure out. I certainly would never volunteer this information to any creditor and I honestly don't know how they would ever figure it out. In the unlikely event that they did a judgment exam, my self employment could suddenly, easily, and voluntarily drop to zero, so they still wouldn't get anything. The kind of work I do requires just a few cheap tools (which are exempt under Arizona law), and no inventory. I just buy stuff at Home Depot when I need it for a job, rather than keep an inventory. Creditors would have nothing to seize.

I do not use credit for anything. I will not even apply for a job that checks my credit report. My credit report has no recent activity. That looks bad to a debt collector.

I understand that most people would not want to live this way, but for those who want to drop below creditor radar screens, this is the way to go.

[GoingDown]

Just wondering what makes you judgement proof. The reason I ask, I am going down the same road but just started. My income is Mil retirement, VA disability and Social Security. House is 120K underwater, car upside down and no real assets other household furniture and cloths.
Thanks

Social Security and disability are exempt, but don't keep it in a checking account. SS offers a debit card if you don't have a checking account. I would imagine VA disability would offer one, too. Not sure about Military retirement. I would think it would be exempt as well. Check with a local attorney about that.

They don't want upside homes or cars. In other words, they won't try to take them from you and sell them. But they might still put a lien on them to prevent you from selling them without first paying off their lien. If you don't plan on moving or selling your vehicle, then it really doesn't matter.

They are not interested in your used furniture or used clothes. Think of how much it would cost to seize them, transport them, insure them, and then auction them off? Then think of how little they would bring at auction. They would end up losing money. They may threaten this, but they would be lying to you.

[treehugger1]

And, if you claim your exemptions and challenge the seizures, they would have to come up with your exemption amount. If your houshold furnishings have a $3000.00 exemption, they have to cover that exemption amount before they pay themselves. They do not want to play this game. cars are the same way. In Oregon the automobile exemption amount is $2150 for one vehicle. Neither of my vehicles have that much equity. They can have either one for $2150.00 in my pocket. And, they would have to payoff the current lienholders. I doubt there is much risk in them dinking around with such matters.