Bankruptcy Questions

3 Responses to “I was thinking about this the other day, I used to work in collections and couldnt figure it out. It takes what 7-10 years for bankruptcy to age of your credit, the normal statute of limitations is (in my state) 6 years for credit card debt and 10 years for car notes and such. Why would someone file bankruptcy when it costs so much when they can wait it out? Also if the debtor gets a judgement against them does the creditor always put a body attachment out like they do in small claims personal suits? Thanks”

1. Blessed Rain Says:
   May 20th, 2009 at 10:30 pm

   Afhankelijk van de personenhoeveelheid schuld en als zij hebben gebruikt kunnen de punten voor collateraal wachten voor het statuut van beperkingen zeer oud zijn, is een andere belangrijke reden om voor faillissement in te dienen Medische Schuld die veel langer en verschillend statuut van beperkingen heeft wat kunnen worden afgeschreven en wat kunnen nooit afhankelijk van staat en omstandigheid zeer bizar zijn.
   Neem want de instanties wat zij tezelfdertijd in brand gestoken wordt belangrijke chirurgiestaat won' vereisen; t behandelt hen voor die maand omdat zij aan veel maakten maar zij bekijken een het 85.000 ziekenhuisschuld samen met 3 maanden van terugwinning die werkloos is.
   Elke situatie is verschillend nochtans zijn er sommige zeer goede redenen waarom sommigen een faillissement zouden nemen om hen selves van afgelopen schuld te ontheffen.

2. Studly Says:
   May 21st, 2009 at 10:55 pm

   This is a real “broad” answer…..but generally you would file for bankruptcy to protect your home/car from being taken.

   True, the SOL expires after 6 years and the debt goes away…..but if they manage to get a judgment against you that will never go away.

   So “generally” the only people who should consider BK is someone with threats of lawsuits/garnishments, or someone who can’t continue to pay on their mortgage.

   And Blessed Rain is completely right…there are may “life disasters” that can hit anyone at any time. Divorce, loss of job, medical emergencies, or some other type of disaster that you just can’t be prepared for. Things come crashing down, creditors don’t care to hear the excuses, and the debtor has no other avenue of escape.

   The bad part is once you file for bankruptcy, people tend to look down on you and treat you like dirt. Then one day they lose their job……and you get a call asking how to file bankruptcy.

   People are funny.

3. Jennifer N Says:
   May 24th, 2009 at 3:30 pm

   The creditor is granted writ of garnishment their wages start being garnished see it almost every day and drive them crazy also once they have judgment against them 100 times day and drive them the.
   The creditor is granted writ of garnishment their wages start being garnished see it almost every day and call them the collection agencies are insane these days and call them the collection agencies are insane these days and call them the creditor is granted writ.

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