Will creditors still sue!

[DYLAN150]

Will creditors still sue if you let them no that your income can't be garnished or you have no assets.

I will file with the local court a declaration of defedant income and assets exempt from garnishement. (washington state form)

I can't see a creditor sueing if there is nothing to get? Or will they?

[SMinGA]

Maybe, maybe not. Once a judgement is filed, it is good for 10 years and can be renewed after that. So they may file knowing they can't collect now, but hoping to collect if/when things change for you.

[justbroke]

Will creditors still sue if you let them no that your income can't be garnished or you have no assets.

Yes, why not. Once they have reduced the claim to a judgment, they can hold on to that judgment for years. In most States, a Judgment is enforceable for 10 years and can be extended another 10 years.

The reason a creditor would reduce it to a judgment is because the statute of limitations (SOL) is usually much much less than 20 years. Getting a judgment allows them up to 20 years of collection ability.

Who knows whether you'll always be "collection" proof or not. A judgment is better for a creditor than the SOL expiring!

[AngelinaCat]

Have you filed already, or getting ready to? If you have, or are, your filing will stop the creditors in their tracks. We had a couple of lawsuits against us that were starting up--American General, and a loan company for a car note that 'Hub foolishly cosigned for and acquaintance--and these were stopped and those debts eventually discharged.

[junker]

of the many defaulted cc,s i did,... and my other half did..., one sued and got a judgment on me, but i think mainly because i really got her p.o. she said she was going to do a asset search..and i told her kindly what she could do with her search....we got into a big personal argument on the phone..she worked for a jdb lawyer outfit... and a couple of folks here know how i feel about lawyers....i also told her what her lawyer could antanomically due with the asset search also... another jdb sued me while i lived in florida, but it was dismissed..my other half although had MORE bad debt....much higher cc,s balances....and owned the same things i did, ie house, car, etc, and for some reason they never did bother her.just a few jdb letters....they even gave her MORE credit cards with higher balances after a few years....without filing bk or anything..so the point is.. of the 15 or so that COULD have sued either of us....only two did... go figure....

[DYLAN150]

JUNKER; just wondering what kind of balances you owed?

[junker]

we have defaulted two separate times, the first time back in 2000, the one that sued me was for a original balance 1800 on a mbna acct..the one that tried to sue me in florida was for a cc for about 3500 original balance. the total defaulted for me at that time was about 15k...my other half on the other hand had cc,s total of more than 20k....she just defaulted again the first of this year on balances of over 18k on the NEW cards she got...although this time due to hospitalization....a side note one cc, is b of a...with a balance over 5k and they havent even contacted her for 3 months...chase on the other hand has called daily with a balance of also 5k. the bank that handles dell, which i dont remember has also not tried to contact her with over 5k balance.. a couple of smaller ones have called..barclays..and crap1...but we ignore the calls..with MY latest batch of cards i defaulted on...they have been calling me non stop... and some are already turned over to jdb,s ...nco is the big caller again...i think they have three or four of my accts... so here i go again...and again mine alone are around 15k this time....

[DYLAN150]

JUNKER: I owe B of A 26K and chase 17K. Plus others about 50K. All credit cards. I realize once I stop paying my phone will be falling off the hook.

[junker]

i think a lot depends on what they think they can get...if you have job, house cars paid for etc,,much more likely to sue...my situation was different..no garnishable income..although i did have house they found out about...but i beat that one...and the point is..no ryhme or reason for suing..a small mbna acct they go for...other accts much higher they dont....

[flyinbroke]

Smaller numbers are easier to sue in small claims court (and much cheaper)...and 90 percent of people never show up and automatically lose; quite a few who do show up lose too. Much more profitable than filing in the big courts for big numbers with no guarantees.