Bankruptcy/or Just walk away

[barkley]

I have 50k in debt and have no assets, and already have a court order to pay $700 in child support (my income as a bartender is $2,600 a month)

I'm debating on avoiding going "Banckrupt" paying total 2k in attorney and court bills, or just stop paying my minimum's now and walk away. My question is if I "walk away" can the courts Garnish my wages when I already pay child support on a limited income?

[nc73]

If you qualify, file. Do you not get tips? I thought bartenders made a lot more?

[MSbklawyer]

My question is if I "walk away" can the courts Garnish my wages when I already pay child support on a limited income?

Yes in most states your creditors can garnish your wages, seize non-exempt assets and bank accounts, make you appear at debtor exmainations and other various and sundry nasties. Some states, notably Texas, do not allow wage garnishment for most debts.

Where garnishment is allowed, there is a limit on how much they can garnish, usually 25% of your income.

[barkley]

I work 4 days a week, and my tips (not cash) only hotel room charge and credit cards all go on my paycheck. I just don't want them to garnish more wages if I walk away, then 2 years later I have to go Bankcrupt to protect myself.

[justplaintired]

Walking away for awhile is an option, but it won't last. With that kind of debt and assuming it's unsecured, you are a good candidate for C7. Eventually those debt or atleast some will come back to haunt you. Not really worth always looking over your shoulder and wondering when they will catch up with you.

[barkley]

"Where garnishment is allowed, there is a limit on how much they can garnish, usually 25% of your income.[/QUOTE]"

Yes I know but since they already take 25% for child support wont it be difficult for them to garnish another 25%?

P.S I live in Los Angeles California

[proto]

"Yes in most states your creditors can garnish your wages, seize non-exempt assets and bank accounts, make you appear at debtor exmainations and other various and sundry nasties. Some states, notably Texas, do not allow wage garnishment for most debts."

Without filing BK are you implying that there are exempt items a bank cannot take like my car?

I am considering not filing BK also. I am still looking for a job without luck, I live in California, stopped paying my CC's, and only own a $3000 (KBB) car. I'm so afraid the banks will come after my car.

Is my car safe from them?