Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
Yes, you can file bankruptcy after any judgment, including credit card judgments.
Yes, you have to fully disclose all of your property and assets if you file bankruptcy.
Bankruptcy is worse because it stays on your credit report for 7-10 years, while judgments will usually stay on there for 3-7 years. Either is not good. However, if you don't file bankruptcy, the creditors will begin to try and garnish your wages, freeze bank accounts, etc. This may be enough harassment to force you to file.
They can't stay on forever - they can be renewed one time after the initial judgment time has lapsed.
You will be required to list all of your assets. If you don't do so, you can be charged with perjury and actually jailed! Thus, it is not a good idea to try to conceal anything - because the trustee will likely find out.