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View Full Version : Do I declare bankruptcy in retirement on unsecured CC's? - one more question...for a


8-Track Holdout
12-07-2005, 04:09 PM
QUESTION:
If I ignore a just-served summons and just let them have all their jugdements
against me, can the evil unsecured CC collectors (legally) take away *ANY* of
my already pathetic worldly possessions though I never used the tangible
possessions/assets for collateral?

RELATED INFO:
I just got served to pay up on $12,000 on a credit card debt I haven't been
able to pay for years because surgery put me into retirement (I became
unemployable before age 55)...

I have very little equity in my home, a old car worth a few thousand dollars
maybe, some emergency cash in the bank (most certainly not enough to pay-off
the summoned debt) and the usual household furniture items; couch, TV,
stereo, computer, no-frills bedroom set all of which are 5-15 years old.

I don't live high-on-the hog in any way, I'm just trying to get through
retirement with a relatively small nestegg of emergency money in the bank.

BTW I'm in WA State if that helps...

TIA for any input, very much appreciated, The damn bankruptcy law seems to
have lawyers afraid to take on new clients even now and their costs here have
gone up around 40% too from what I hear...

DanRB
12-08-2005, 04:36 PM
"8-Track Holdout" <seedy@cassette-cost.com> wrote in message
news:ra-dnU3GRY9f5ArenZ2dnUVZ_vidnZ2d@giganews.com... I don't live high-on-the hog in any way, I'm just trying to get through retirement with a relatively small nestegg of emergency money in the bank.

They can take any money you have in any bank account. Even if you have
income that they cannot garnish (such as disability payments, I think), once
that money goes into your bank account, they can take it.

The judgments would be a lien on your home, so you couldn't sell it without
paying off the judgments first.

I am not sure about this part, but I think the small amount of equity you
have in your house can be taken unless it is exempted through a bankruptcy.

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