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Zachary
Zachary, Attorney
Category: Legal
Satisfied Customers: 3825
Experience:  Lead trial/International commercial attorney licensed 11 yrs
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Facing judgement for non payment of credit card debt, Social

Resolved Question:

Facing judgement for non payment of credit card debt, Social Security payment only source of income forced to retire as a result of state 3 Cancer, what do I do?
Submitted: 1 year ago.
Category: Legal
Expert:  Zachary replied 1 year ago.
Hi,

Thank you for your question and I'm very sorry to hear about your predicament.

You say you are facing a judgment. Has the credit card company/debt collector actually obtained a judgment or are they only threatening to sue you?
Customer: replied 1 year ago.


They are threatening, if I do not pay full amount in ten days a judgement will be placed against me, accually 6 days.

Expert:  Zachary replied 1 year ago.
OK. Well, to get a judgment they will have to sue you, get a trial date, and go to trial and prove that you owe on the credit card.

How old is the debt?

When was the last time you made a payment on it?

How much money are we talking about?
Customer: replied 1 year ago.


Debt is approximately 2 years old, last payment made July 2011 amount 1450.00.

Expert:  Zachary replied 1 year ago.
OK. Then that means that there is not a defense under statute of limitations.

In this case, you can look at it two ways:

1. You can declare bankruptcy. This will stop any lawsuit against you and will require the creditors to seek payment through the bankruptcy court which will create a payment plan for you given your limited income.

2. Ignore it and allow them to get a judgment against you. If the only income you have is social security, this is exempt from seizure by a judgment creditor. If you do not have a second home or a lot of extra property (two cars, jewelry, etc), then there are no assets that the judgment creditor can get from you. If this is the state of your assets, then you are what we in the legal profession call "judgment proof." It means that someone can get a judgment against you and it is basically worthless because you can't pay it and there are no assets to seize to satisfy it.

These are your two options as I see it.

Please let me know if you have any further questions. Please also kindly consider rating my answer positively so that I am compensated by the website for my work on your question. Rating positively does not cause an additional charge and does not prevent us from further discussing your questions.

Best Regards,
ZDN
Customer: replied 1 year ago.

one final question I have a car and I lost my home sold in trustees sale on 01/31/2013 am I in danger of losing my car, thats all I have?

Expert:  Zachary replied 1 year ago.
You vehicle is exempt up to $5000.00

However, if you are disabled, it will be up to $10,000.00.

How much is the fair market price of the vehicle in your estimation?
Customer: replied 1 year ago.

I have 2006 Hyundai Sonata I'm not sure however I dont beleive its worth more than 5000.00 and I am disabled.

Expert:  Zachary replied 1 year ago.
OK. Then no, they cannot seize your vehicle.

My take on your situation is that you should simply let them get the judgment. If all you have is a vehicle and you are living off your social security pension and/or disability payments, then this money cannot be touched.
Zachary, Attorney
Category: Legal
Satisfied Customers: 3825
Experience: Lead trial/International commercial attorney licensed 11 yrs
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