Arizona - My husband and I are having dire financial problems. I contracted a chronic illness and am unable to work. He has had a nuerological illness and has not worked for 10 years. In the last year my 85 year old mother has become ill and needs constant care - I share this with my sister as much as I am able. I had a small book business for awhile and was able to supplement our income, but even that is impossible now.
I have a credit card debt
of $6000. I was paying regularly until they raised my interest rate without cause and from then on I was no longer able to pay anything on principle - for years and I have been pouring money into a black hole - after numrous attempts at negotiating - I stopped paying as we were unable to pay for our basic needs.
Creditor is now suing me and are attempting to bypass court hearing by a "motion for judgement"
I (we) have no assets
. I have taken early SS which just covers my insurance.. My husband is on SS disability
, and receives a teacher's pension
. Our house is paid for but not worth much - 12,500 or so at last tax assssment. We have no savings, bank account avarages about $800, cars are 20 years old.. I have some boxes of used books in a storage locker that aren't worth much anymore that I'm hoping to sell for a little added income if my mother improves and I have some time again.
I have considered bankruptcy, but was told everything is protected. Is this correct?
How far can this creditor go in AZ, what can they seize, and how long will this stressful situation continue?
Can I fight this motion for judgement with the fact that interest rate was raised (just prior to law being enacted) or am I in a hopeless position?