Hello,
I have been googling and hunting all over the internet and am coming up empty handed.
If anyone knows a web site where I can find out what assets are exempt from collections under Florida law, I'd appreciate knowing where to find that info.
Please note this is not a bankruptcy question. I had a Ch. 7 bankruptcy six years ago and I can't do another one for at least two more years. In the meantime I have a lot of house-related credit card debt that I can't handle. I am already in pre-foreclosure and I am thinking of just letting the credit cards go.
I do not want to file a Chapter 13 and have to be accountable to a trustee for every penny that goes in and out of my life for the next five years either....
I have five credit cards, total of $17k in debt, and one of the balances alone is $6k. In addition I have a $30k HELOC with Countrywide that is probably not going to get paid one dime when the foreclosure is said and done, because my primary mortgage lender, Chase, has first dibs on the auction proceeds. I know the credit card companies and Countrywide are going to come after me at some point.
I did find out that according to Florida law, because I am the head of household, I am exempt from getting my wages garnished.
The only assets I'm worried about protecting are my eight year old Honda, and my bank account. I don't have any money in the bank account other than paychecks that go in and out. I also have $1500 in a 403-b (employer account) and I'm pretty sure that is exempt.
As I mentioned, I've been searching on the internet and can't find anything. I really need to know if I get sued by a credit card company, and if a judgment is made against me, if they would be able to seize my car and/or my bank account. Thanks for any info anyone can provide, and in the meantime I am going to keep googling and hunting.
I have been googling and hunting all over the internet and am coming up empty handed.
If anyone knows a web site where I can find out what assets are exempt from collections under Florida law, I'd appreciate knowing where to find that info.
Please note this is not a bankruptcy question. I had a Ch. 7 bankruptcy six years ago and I can't do another one for at least two more years. In the meantime I have a lot of house-related credit card debt that I can't handle. I am already in pre-foreclosure and I am thinking of just letting the credit cards go.
I do not want to file a Chapter 13 and have to be accountable to a trustee for every penny that goes in and out of my life for the next five years either....
I have five credit cards, total of $17k in debt, and one of the balances alone is $6k. In addition I have a $30k HELOC with Countrywide that is probably not going to get paid one dime when the foreclosure is said and done, because my primary mortgage lender, Chase, has first dibs on the auction proceeds. I know the credit card companies and Countrywide are going to come after me at some point.
I did find out that according to Florida law, because I am the head of household, I am exempt from getting my wages garnished.
The only assets I'm worried about protecting are my eight year old Honda, and my bank account. I don't have any money in the bank account other than paychecks that go in and out. I also have $1500 in a 403-b (employer account) and I'm pretty sure that is exempt.
As I mentioned, I've been searching on the internet and can't find anything. I really need to know if I get sued by a credit card company, and if a judgment is made against me, if they would be able to seize my car and/or my bank account. Thanks for any info anyone can provide, and in the meantime I am going to keep googling and hunting.