My situation

[sunshinepa]

Dylon,

Little late on responding but do have a question for you. What about wage garnishment? Is it allowed in your state? A scenario I would think about is this.....judgements come, you get wage garnishment of 25% (not sure it's a option but would think those cc companies would use it). Say they start with your smallest account, garnish it, it gets satisfied, then the next comes after you because the SOL hasn't expired?

I guess that would be the worst case scenario and sooner or later the SOL would kick in. Just thoughts! You do seem to have it under control.

[IamOld]

Good points! The only thing I'd mention is that although fed law only allows ONE garnishment at a time (and your state may allow none or less than the 25% that the feds allow) BUT - if a lender gets a judgment against you, the SOL no longer applies - judgments can stay alive for a long time...

In other words, just because you have a garnishment that doesn't mean that someone else can't sue you and get a judgment.

Dylon,

Little late on responding but do have a question for you. What about wage garnishment? Is it allowed in your state? A scenario I would think about is this.....judgements come, you get wage garnishment of 25% (not sure it's a option but would think those cc companies would use it). Say they start with your smallest account, garnish it, it gets satisfied, then the next comes after you because the SOL hasn't expired?

I guess that would be the worst case scenario and sooner or later the SOL would kick in. Just thoughts! You do seem to have it under control.

[DYLAN150]

I am retired and have paper checks come to my house. Social security and vet's benefits can't be garnished by creditors.

[ryan]

I am retired and have paper checks come to my house. Social security and vet's benefits can't be garnished by creditors.

Hey Dylan!...hmmm, paper checks, how old-fashioned....lol

[DYLAN150]

Ryan: The Gov't says no more paper checks after 2013 or something like that. A person must have direct deposit.

[sunshinepa]

If they can't touch your money, I think you have it all under control and other than the calls, nothing to worry about.

[bladerunner]

@sunshinepa, true....I defaulted on 3 credit cards almost two years ago, due to job loss. out of unemployment benefits and with no assets, I had two of my credit cards take me to court where the judge dismissed the judgements pronto. I currently started working part-time, I never fret about garnishment attachments because I will never make the desired monetary amount for judgement... BTY, I started to receive credit card applications in the mail again...( you can also get a debit card provided by the social security department. Inquire. That way creditors cannot touch your benefits. my neighbor has one and she has defauted on un-secured debt over two years ago. NEVER get a debit card attached to a bank or credit union)