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Brent Blanchard
Brent Blanchard, Bankruptcy Attorney
Category: Bankruptcy Law
Satisfied Customers: 1975
Experience:  Twelve years experience in all aspects of debtor & creditor BK.
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This question will pertain to my mom, she is self employed

Resolved Question:

This question will pertain to my mom, she is self employed and due to rough economy and times, now barely makes $500 a month. That's only enough to cover living expenses. She has huge credit card debt, if she can't afford to pay for it anymore, what's the worst case scenario...besides the creditor's phone calls and threaten mail?

Should she file for bankruptcy?
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  Brent Blanchard replied 6 years ago.
Worst case is that a debtor gets sued, loses, and the judgment creditor starts to execute on the judgment--with all the costs of doing that added to the judgment.

Non-exempt bank accounts can be tapped very quickly, and the debtor gets to protest only AFTER that has happened. Whether the account would be exempt is a question of local law, but most of them are NOT.

Wages can get garnished, usually at 25%.

Absent wages, a determined creditor can track down customers and clients and get an order of execution requiring them to pay what they owe to the debtor to the creditor instead. In other words, any account receivables don't go in to the debtor, they get diverted to the creditor.

Whether to declare BK is a personal decision. The legal advice needed to make that type of decision is beyond what we can properly give on

Sorry to hear about that situation. Like many stories these days, the best answer would be more money coming in.

Thank you.

Brent Blanchard and 3 other Bankruptcy Law Specialists are ready to help you
Customer: replied 6 years ago.

Your answer wasn't clear, my mom does hair and nails, so she wouldn't really have A/R or other customers owing her money. She doesn't receive a wages can't be garnish, I don't think. She doesn't make as much as she used too.


Let me re-phrase my question, if she only makes enough for living expenses, and stop paying for her credit cards, what can happen?

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