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VanDLaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 833
Experience:  Chapter 7 & 13
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I am delinquent on credit cards that I cannot pay. Ive consulted

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I am delinquent on credit cards that I cannot pay. I've consulted w/ cccs and other agency, they think my best recourse is bankruptcy since my debt to income ratio is so high. I really don't want to file and understand the bad debt will show on my credit for 7 years. My question is can a credit card company that I owe, file a court judgement against me, take me to court in efforts to garnish wages? What about savings account. I don't have enough to offer a settlement or pay them off but am starting over, paying what bills I can and trying to save. Can they take my savings?



I will be happy to assist you. First, a bankruptcy will be reported on your credit report for 10 years. It will show a notation of filing, but no details. Just date of filing and date of discharge. The credit card companies will cease reporting you in a negative status because your debt is discharged. Your credit score will acutally increase to about an average of 720 after about a year. You will be able to get other credit and can secure a mortgage although your interest rate may be higher than someone who didn't file bankruptcy. Another words there is life after a bankruptcy. We have this in our country to help people, not punish them for life. Think of it as a clean slate.


Secondly, yes, Credit Card companies can and usually will file a court action, receive a judgment and then search for assets or if you are working garnish wages. Depending on your State they have different laws regarding each of those actions. Again each state has statutes which govern what assets, bank accounts and wages can be seized by a creditor with a valid judgment, but most allow checking and savings accounts to be garnished.

Customer: replied 8 years ago.
Do you know if most credit card companies are successful in garnishing wages and accounts if they file a claim. I need to be able to maintain at least one card in good standing due to business travel. Are there any other recourses than filing bk where I can keep my assets. Thanks for your reply.

It depends on if they are able to locate your assets, if they can then they will execute on their judgment


In order to keep one card in good standing you must have a zero balance on it, or it will have to be included in the bankruptcy. You cannot take a partial bankruptcy, so all assets and all debt must be listed in the bankruptcy.


If it is a business card in a business name, then it does not have to be included.

Customer: replied 8 years ago.
Can you recommend any affordable attornies in Gaithersburg, MD area, who I could consult with if I decide to go this route? I appreciate your responses.

I do not know any personally, but there is a Montgomery Bar Association Website that has attorney referrals.



VanDLaw and other Bankruptcy Law Specialists are ready to help you
Customer: replied 8 years ago.
Thanks for your help.
You are welcome. Good luck!