Hi, thanks for your question. You should hire a lawyer for specific legal advice. No attorney client relationship is created here.
You would probably be better off filing the case, if you do nothing, they can still sue you get judgments, then garnish you once you start working, so you are not really judgment proof.
Your credit will have lots of negatives that way.
if you file, you wipe the slate clean, clear all the past debt, and when you finish school, you will be able to move forward much easier.
Lenders want 2 years usually after bankruptcy to get a home.
Bad history would make getting an apartment more difficult than a few years removed from bankruptcy would.
Plus, you clear all the bad debt, don't have to worry about old debt rearing it's ugly head to collect down the line.
It depends on the creditor regarding renewing judgments.
For the car, you can surrender it, wipe out the debt, and get a new one right after the case.
Otherwise, unless the creditor is willing to re-write the note, they'll want you to be current or they will repossess the car (you are telling them where it is when you file).
You have to disclose all assets in a bankruptcy case, no matter where they are located. You also have to disclose them for judgment citation hearings too, and the court could order you to turn them over to the creditor if you do not file bankruptcy.
Hope that gives you some more information.
Let me know if you have any other questions.
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