Please help received summons

[stressed105]

Boy is my situation every confusing and I have no idea what to do. Last year my husband and I started having problems and he stopped paying my credit cards and I stay at home with the kids. We have been on and off trying to make it work for the last year. He buys the groceries, pays the bills, etc., I have no source of income other than what he occasionally gives me. Yes, I'm on the checking account, and yes we are still together, but there is never a lot in checking to even do anything with, we live payday to payday. Shortly after he stopped paying my cards (he still pays our joint accounts) my aunt passed away and I found out I'd be inheriting about $40k, and I have about $30k of debt on my own that has not been paid.

Well everything is done with her estate but waiting on closing letters from taxes. The lawyers will not release the money early, I've asked. I'm expected to "maybe" get it in April.

Well almost 2 weeks ago I was summoned through Discover for $10K of debt. I have about another week to answer the summons. We do not own our house, our vehicles will be paid off this year so I'm sure they could get them if they wanted to. We are both on the titles to the vehicles. What in the world do I do?

I had all intentions of taking that money and settling with the creditors but it's taking forever and now I'm afraid they're going to take our cars (which I need to get my kids to school), or the very little in our checking. I never thought it would take this long to receive the inheritance or I would have filed chap. 7 last year.

Any advice, please?

[jlmaca]

Boy is my situation every confusing and I have no idea what to do. Last year my husband and I started having problems and he stopped paying my credit cards and I stay at home with the kids. We have been on and off trying to make it work for the last year. He buys the groceries, pays the bills, etc., I have no source of income other than what he occasionally gives me. Yes, I'm on the checking account, and yes we are still together, but there is never a lot in checking to even do anything with, we live payday to payday. Shortly after he stopped paying my cards (he still pays our joint accounts) my aunt passed away and I found out I'd be inheriting about $40k, and I have about $30k of debt on my own that has not been paid.

Well everything is done with her estate but waiting on closing letters from taxes. The lawyers will not release the money early, I've asked. I'm expected to "maybe" get it in April.

Well almost 2 weeks ago I was summoned through Discover for $10K of debt. I have about another week to answer the summons. We do not own our house, our vehicles will be paid off this year so I'm sure they could get them if they wanted to. We are both on the titles to the vehicles. What in the world do I do?

I had all intentions of taking that money and settling with the creditors but it's taking forever and now I'm afraid they're going to take our cars (which I need to get my kids to school), or the very little in our checking. I never thought it would take this long to receive the inheritance or I would have filed chap. 7 last year.

Any advice, please?

You'll most likely get some good advice here on the forum. To me your situation is complicated because you want to protect your inheritance or it will be taken away to pay off these creditors. You might want to consult with a bankruptcy attorney lay all the cards on the table and make sure you protect yourself. Without an attorney and the protection of the law to represent you, the wolves will hound you forever.

[keepmine]

Bk won't help unless your lawyer can figure out a way to exempt the $40K. Inheritences due you within 180 days of filing are fair game. If you wait over 180 days, the money is an asset that can be seized if it can't be exempted.
You likely are just stuck until you get the money and can start negotiations. Whatever deal you strike, be sure you get it in writing that the payment settles the matter. That any unsettled portion can't be sold, transfered or, assigned to another party.

[DYLAN150]

Answer the summons. That will give you some additional time. They can't take anything until they get a judgement against you. Depending on where you live it could be a long time until the court date.

[paulf8]

awser the summons and denie everthing make them prove ther case this will hold them off for along time all kinds of sights on how to do it

[anykey]

dont pay it.

[albacore44]

If your planning on filing BK anyway, I would consult a good attorney, who can help you delay the judgement. the courts are way backed up, and it could take a year or more. in the mean time you could delay filing, and put that money in an exempted asset like a IRA. But if you are really in trouble please dont waste that money paying back credit cards. It already sounds like youir living week to week, and having that money could help you. don't flush it away.

[ForumReader]

I agree with the previous posts--answer the summons. It will buy you some time before any garnishment should take place and do consult with a bk attorney to see if your 40K can be exempt. Otherwise if you want to settle with your creditors, my one piece of advice is...

do not hire a debt settlement company --they are a waste of money and worthless scumbags, rather settle with the money you can work with if you do not file for bk. Good luck.

[stressed105]

Thank you everyone. I do plan to file a statement. My next question. I'm in Oklahoma, to my knowledge it's a Tenancy by the Entirety state. Does this mean since the cars and checking is in both our names they can't go after it since it's my debt alone?

Also if I were to deposit the inheritance into that account does it mean they can't touch it?

[jlmaca]

Thank you everyone. I do plan to file a statement. My next question. I'm in Oklahoma, to my knowledge it's a Tenancy by the Entirety state. Does this mean since the cars and checking is in both our names they can't go after it since it's my debt alone?

Also if I were to deposit the inheritance into that account does it mean they can't touch it?

Don't know about Tenancy by the Entirety.... but if you deposit the money in an account without following some of the protective proceedures outlined here on the forum anyone you owe can sue for the money.