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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I am being sued by Bank of America for non-payment of a credit

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I am being sued by Bank of America for non-payment of a credit card debt.

I live in Florida. I am 75 years old and live on Social Security and a small retirement from my former employer. I live in a rental unit, have a 6 year old paid off car and no other income. My total monthly income provides all the basics with no frills. I have no real estate assets, no investments, no stocks, bonds or any other treasure. I have serious medical issues but Medicare and Blue Cross handles almost 100% and I have a small copay for 9 prescriptions which I can handle. Bank of America has reported me to the Credit Companies, therefore closing off any commerical loans and I have no family or friends I can tap for a loan.

My question is.......When BOA gets a judgement against me, is it enforceable and, if so, how?

Thank you for your question.

Social security and retirement funds are exempt from the claims of most creditors-- including credit card companies. Therefore, although BOA could obtain a judgment against you, it could not execute the judgment against any of your assets.

You may also consider filing a chapter 7 bankruptcy. It would discharge the judgment and prevent BOA from being able to collect against any assets you may come into in the future

Here is a list of assets that are exempt in Florida. They apply regardless of whether you file bankruptcy:

Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.

Thank you,
Ellen and other Bankruptcy Law Specialists are ready to help you