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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I am being sued by Bank of America for non-payment of a credit

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I am being sued by Bank of America for non-payment of a credit card debt.

I live in Florida. I am 75 years old and live on Social Security and a small retirement from my former employer. I live in a rental unit, have a 6 year old paid off car and no other income. My total monthly income provides all the basics with no frills. I have no real estate assets, no investments, no stocks, bonds or any other treasure. I have serious medical issues but Medicare and Blue Cross handles almost 100% and I have a small copay for 9 prescriptions which I can handle. Bank of America has reported me to the Credit Companies, therefore closing off any commerical loans and I have no family or friends I can tap for a loan.

My question is.......When BOA gets a judgement against me, is it enforceable and, if so, how?
Hello,


Thank you for your question.

Social security and retirement funds are exempt from the claims of most creditors-- including credit card companies. Therefore, although BOA could obtain a judgment against you, it could not execute the judgment against any of your assets.

You may also consider filing a chapter 7 bankruptcy. It would discharge the judgment and prevent BOA from being able to collect against any assets you may come into in the future

Here is a list of assets that are exempt in Florida. They apply regardless of whether you file bankruptcy:
http://www.bankruptcyinformation.com/FL_exemp.htm



Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.


Thank you,
FLAandNYLAWYER
Ellen and other Bankruptcy Law Specialists are ready to help you