Do you have to file bankruptcy if there is judgment against you and you have no property, etc,. Can my elderly parents go indefinitely with a judgment and not have to file bankrupcy??
State/Country relating to question: Nebraska
Hi - my name is XXXXX XXXXX X'm a Bankruptcy attorney here to assist you.1) Do your parents have a bank account?2) What is the source of your parents' income (social security, pension, etc.)?3) Do your parents live in Nebraska?
my parents have a bank account, social security and a small pension. They do live in NE
If your parents do not own any assets, and their income is from social security and a pension only, then they are considered to be "judgment proof" - which means there is nothing a judgment holder can do to them - whether or not they file a Bankruptcy.
So, given the information you provided, your parents do not have to file a Bankrutpcy.
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