Second suit is coming in quick.

[DYLAN150]

Max: I hear alot of people say they are judgment proof but I believe they mean collection proof. = Your creditor has no legal way to collect the debt.

[maxwell18]

info

Just wondering what makes you judgement proof. The reason I ask, I am going down the same road but just started. My income is Mil retirement, VA disability and Social Security. House is 120K underwater, car upside down and no real assets other household furniture and cloths.
Thanks

[GoingDown]

Each case is different.

Most of my charged off credit cards have now gone over 5 years without suing me. Some are now approaching the 3rd year after charge off, and have not bothered to sue me yet.

They will all soon be beyond the statute of limitations. At this point, it would be a waste of money and time and effort for me to file bankruptcy.

I will simply respond to any lawsuit they file with an affirmative written defense that the debt is time-barred, and then I will win the lawsuit.

My guess is that at this point, none of these time-barred debts are going to bother filing a lawsuit against me. But they will probably call from time to time. Which is easy to stop.

The only one that sued me was a tiny CrapOne credit card, and they sued within just a few months after I stopped making payments. They have seemingly given up on this judgment. I haven't heard from them in years. And now their judgment is past the Arizona statute of limitations for judgments-- 5 years. So it is worthless.

I don't know what kept me from being sued most of the time, other than I told the debt collectors that I was judgment proof and I explained to them exactly what I meant so they knew for sure that I wasn't lying about it and any lawsuit would be a waste of their money and time. And my credit report has been completely inactive this whole time. I did not apply for any credit. And I did not apply for any job that would check my credit report. I think that helped me a great deal. The credit report looked like I was not using any credit or paying for anything. And I think it helped when I sent them the Cease and Desist letters making it impossible for them to contact me. I refused to speak to them on the phone. They knew that there was really no hope of collecting anything from me. I knew the law, I wasn't scared of them, and I wasn't afraid of lawsuits because I knew they couldn't get anything out of me, and I told them so in writing. I think that made all the difference in my case.

Most people can't do that. They have assets to lose, or wages to garnish, and they aren't willing to live like I live. But for those who can just sit back and wait them out, you may not have to file BK. And if you are waiting to file BK to put some serious time between your filing and your credit purchases, this is one way to do it.

[flyinbroke]

I imagine they still sue down here. Chase is bad, from our court docket....they sue at the drop of a hat. GEMB rolls over and dies if you answer but they have not filed a suit here since the beginning of 2009 (they used to file a lot of them around '05-06).

I am with Albacore. I am probably going to have to file, but want as much time between my sins and pushing the big red button as I can get. Optimistic, you and Albacore got some serious hang time and that is what I aim for. I needed to change my W-4 which is going to take a HUGE bite out of my paycheck, which changes the 13 as well (my retirement taxes doubled when I changed it...my salary check is going to suck.)

[optimistic1]

True albacore there are clear advantages, mine was unique and was worth waiting for, it insures a successful Chapter 13.
@flyingbroke, I wish I lived in TX, I would hide out forever, you are lucky!

[espo1357]

You have to stop the bleeding, or they are going to take advantage of you.

At first, I just ignored the lawsuits. Bad move. Anyway, what got me was when one of the ccc's wanted to not only sue for the balance due, but also tack on some interest. That just floored me. Now, I have a lot of pride, and filing was something that I did not consider (no knowledge at the time).

But, now that I have filed, I sleep better. I feel better. As importantly, my financial future in brighter.

Also, consider a living trust as well, if you can afford it and you have some assets. Legal protection is important and never to be overlooked.

There are demons running around this world, in case you haven't noticed.

[albacore44]

I agree with the part about the inevitable. But each situation is different, I waited to put as much time between my sins and filing as possible. that is why my case will be so smooth, less chance for an adversial to be filed. but as soon as the real Law fims come knocking, you know the Jig is up.

[flyinbroke]

Got another letter today from local firm.
Did a quickie search for plaintiff = Equable Ascent Financial, LLC, several pages of recent suits. Im still on a paperwork search at this point, but I have almost everything, cant wait until I get some protection.

My advice for peeps trying to hide out like I did, you can save yourself lots of heartache and stress, and just file as soon you can, dont BS around, swallow your pride and just file, there is no other way.

Yeah but how long did you hide for?

[optimistic1]

Got another letter today from local firm.
Did a quickie search for plaintiff = Equable Ascent Financial, LLC, several pages of recent suits. Im still on a paperwork search at this point, but I have almost everything, cant wait until I get some protection.

My advice for peeps trying to hide out like I did, you can save yourself lots of heartache and stress, and just file as soon you can, dont BS around, swallow your pride and just file, there is no other way.