Judgments are generally discharged.
The general procedure for filing is filing the voluntary petition
, schedules, statement of financial affairs, creditor matrix, means test
and a few other miscellaneous documents with the Bankruptcy Court
and paying the filing fee of about $300.
About 30 days later, you will attend a 341 meeting at which the trustee
may ask you questions about your assets. About 60 days later you get your discharge unless someone has objected.
Typical items that are exempt are equity
in your home, your car, your household items (furniture, clothing, etc.). Items that are not generally exempt are large sums of cash, investment accounts, unusual or extremely valuable assets.
If you want to keep your house or car, you must keep up with payments to keep them.
Common claims that are not dischargable are IRS
taxes, fraud claims, student loans.
Are there any particular assets you want to exempt that I didn't discuss above? Is there anything special about the judgment, or is it just for credit cards?
Did I miss any part of your question? Please let me know!