How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Terry L. Your Own Question

Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2501
Experience:  Better Business Bur 15yrs bankruptcy experience. Chicago Bar
Type Your Bankruptcy Law Question Here...
Terry L. is online now
A new question is answered every 9 seconds

To preface this, I didnt know whether this comes under the

Customer Question

To preface this, I didn't know whether this comes under the category of Consumer Protection Law or Bankruptcy Law, but here's my situation... I've been out of work for a long time due to the economy and the downfall of the construction business. I started a small decorative concrete business in 2010 with hopes that I could make enough to support myself. This was hard to get started, no working capital, new type of work for me in a new area. I did several small jobs and then I was approached by a Doctor to do a small job. I started the job and he added many new specifications and changes and this job turned into a big job. He never signed the original contract, and I needed the work so badly that I jumped to make the changes that he requested, trusting that he would honor his obligations, as he is a very well-known and reputable professional. With the lack of working capital, I charged most of the materials to my credit cards ~ several thousands of dollars. The doctor paid me some of the debt as we went along and I paid the credit cards. However, I had to bring in additional labor and I paid them with some of the payments from the doctor. At the point where I was about 98% complete, the doctor approached me and said that he wanted me to leave and that he would only pay me $1500.00 because his wife did not like the work that I had completed. I refused and told the doctor that there was about 10 to 12 thousand dollars on my credit card and that did not include my fee. He did not pay me anything and I was stuck paying the balance on these credit cards. Two of the cards are in the name of G D Crawford & Associates, which is a now-defunct company, and the other is in my personal name.

My question is: If I quit paying on these cards, what can I expect these credit card companies to do and can they attach my retirement income? The total debt is about $30,000.00, which breaks down to $20,000.00, $6500.00, and $3500.00. I am to the point, finacially, where I can no longer pay these bills, hence my question here.

My current income is $2078.00 per month.
Submitted: 2 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 2 years ago.

Terry L. :

Hi, thanks for your question. You should hire a lawyer for specific legal advice. No attorney client relationship is created here.

Terry L. :

The creditors can sue first.

Terry L. :

once they sue, they can issue a citation to discover assets.

Terry L. :

they can then freeze bank accounts, garnish any wages, and attach any non-exempted assets you may have.

Terry L. :

to find a list of assets that would be exempt, google your state and "judgment exemptions" to find lists by statute.

Terry L. :

If you file a bankruptcy case, the debt would be discharged.

Terry L. :

retirements are exempt in bankruptcy

Terry L. :

the bankruptcy trustee would have the right to sue on whatever contract is there, to collect on the debt.

Terry L. :

from the doctor.

Terry L. :

you may also have a collection case against him as well for breach of contract, unjust enrichment, etc.

Terry L. :

you may want to talk to a lawyer to see what your options would be

Terry L. :

Do you have any questions?

Customer:

Thinking... back to you in a moment... can't afford to finance a legal battle like this with my limited resources at this point. What other options might I have?


 

Terry L. :

i see.

Terry L. :

well, if you file a bankruptcy, chapter 7, the trustee in the case can sue on your behalf if there is a case

Terry L. :

chapter 7 eliminates debts, and if there are any unexempt assets (this potential suit) the trustee can luiqudate it to get the cash to pay back some of your debts. if there is no assets, then the debts are discharged.

Customer:

I have 3 rental houses in KY ~ could they be attached?


 

Terry L. :

Do they have any equity?

Customer:

Yes, one of them does.


 

Terry L. :

how much?

Customer:

approx $25k


 

Terry L. :

That could be a problem then in a chapter 7.

Terry L. :

The trustee could liquidate any unexempt assets, and that could be liquidated too.

Terry L. :

You would look at a chapter 13 to repay enough of the debt to protect the assets you have

Terry L. :

You may want to meet with a local bankruptcy attorney, they can review all of your assets and your income/expenses to see if a chapter 7 would be beneficial to you, and also review chapter 13 repayment figures.

Terry L. :

Do you have any other questions?

Customer:

k. No further questions at this time, Terry. Thank you SO much for your time, information, and expertise. Much appreciated.

Terry L. :

Feel free to request me for any future questions!

Terry L. :

Thank you and good luck!

Customer:

Will do. Thanks again. XXXXX just click on accept now?


 

Customer:
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2501
Experience: Better Business Bur 15yrs bankruptcy experience. Chicago Bar
Terry L. and 3 other Bankruptcy Law Specialists are ready to help you

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
 
 
 

Meet The Experts:

 
 
 
  • FiveStarLaw

    Attorney

    Satisfied Customers:

    3203
    Bankruptcy Lawyer. Experienced.
< Last | Next >
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    3203
    Bankruptcy Lawyer. Experienced.
  • http://ww2.justanswer.com/uploads/TL/tleeders/2012-6-13_204815_TSL1.64x64.jpg Terry L.'s Avatar

    Terry L.

    Attorney

    Satisfied Customers:

    2204
    Better Business Bur 15yrs bankruptcy experience. Chicago Bar
  • http://ww2.justanswer.com/uploads/mnphillips2/2009-03-13_203105_10984459-249293407.jpeg Phillips Esq.'s Avatar

    Phillips Esq.

    Attorney-at-Law

    Satisfied Customers:

    950
    B.A.; M.B.A.; J.D.
  • http://ww2.justanswer.com/uploads/CO/cortrightlaw/2011-12-5_4117_Kevin.64x64.JPG cortrightlaw's Avatar

    cortrightlaw

    Attorney

    Satisfied Customers:

    490
    Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
  • http://ww2.justanswer.com/uploads/Jay1968/2006-12-03_004423_JoeRossPhoto.jpg JoeLawyer's Avatar

    JoeLawyer

    Attorney

    Satisfied Customers:

    376
    Attorney in the practice of Bankruptcy Law since 1996
  • http://ww2.justanswer.com/uploads/DY/Dylatess/2012-9-11_1968_BHBTemplePhoto.64x64.jpg dylatess's Avatar

    dylatess

    Attorney

    Satisfied Customers:

    370
    35 plus years of experience specializing in bankruptcy law
  • http://ww2.justanswer.com/uploads/US/USLawAnswers/2012-9-20_23143_20090105211638Headshot3b.64x64.jpg Brent Blanchard's Avatar

    Brent Blanchard

    Bankruptcy Attorney

    Satisfied Customers:

    315
    Twelve years experience in all aspects of debtor & creditor BK.