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I received a letter from the united states bankruptcy court…

I received a letter...

I received a letter from the united states bankruptcy court southern district of new york

Lawyer's Assistant: What state are you in? And has anything been officially filed?

Chapter 11

Lawyer's Assistant: Has anything been filed in civil court? If so, what?

New york

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

No. that's the letter i received

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Answered in 2 minutes by:
6/23/2017
Barrister
Barrister, Attorney
Category: Bankruptcy Law
Satisfied Customers: 40,025
Experience: 17 years practicing law. Landlord 26 years
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply.

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You may also be offered a phone call, but those don’t come from me and are offered by the website and you are under no obligation to accept.

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Can you give me some more details about what is going on here?

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Are you filing bankruptcy?

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Or is some other company filing it and you are a creditor of the company?

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What does the letter actually say?

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thanks

Barrister

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Customer reply replied 8 months ago
I owe credit card debts around $25k that I stopped paying them as I'm not able to. I've been ignoring their calls and letters.
I received settlement offers from collection agencies for lower payments but I ignored them as well as I still can't afford it.
Now i received a letter from the united states bankruptcy court southern district of new york with the title: Chapter 11 and a list of 18 case numbers for different debtors.
I never filed for bankruptcy, I just stopped paying my credit card debts over a year ago.
Now, what would be next if I kept ignoring those letters as well?
P.S. I don't own a home, I just own my car which is financed and I still have around 1.5 years to pay ( I still pay my student loans, my car payments, and my amex that I still use).
I don't have a personal bank account but I do have a business bank account that belongs to my LLC business and it's under the business name not my personal name. I own a small business that is 2 years old and is hardly covering its expenses.
Would they get access to my business bank account "which does not have enough money either"? or would they get my car? or my business "Which is a rented store not owned"?
Thank you

Ok, I am still unclear as to why you received the letter if you haven't filed BK....

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Are you named as a defendant in a case or as one of the 18 different debtors and the creditor is filing BK?

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Customer reply replied 8 months ago
I was not named as a defendant in any cases and I'm not listed as one of the 18 debtors.
I'm attaching the letters for you to see
But what would happen if I ignore those letters? (and my other previous questions above please)

Those mean nothing to you... they are notices that some creditor you owe money to is filing BK.. You are being notified because you are an "interested party" not because they are taking any action against you..

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So you don't have to do anything at all here..

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In order for your creditors to do anything, they have to first sue you in court, spending thousands on an attorney to do so to get a judgment against you. Then they have to try to collect the judgment, knowing all along that you could just file BK at any time and wipe out any judgment.

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So it is very unlikely that they are going to do this because they figure you don't have any money or assets to pay them and they would just be throwing good money after bad in suing you..

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But if they actually did sue and get a judgment, they could garnish any bank accounts your name is ***** ***** get a wage garnishment against you for up to 25% of your paycheck.

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However, for this amount, I don't see them suing you simply because it isn't worth doing so and for a few hundred dollars you could pay an attorney to file BK and wipe out everything except your student loans..

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Customer reply replied 8 months ago
One last question:
You said: "So it is very unlikely that they are going to do this because they figure you don't have any money or assets to pay them and they would just be throwing good money after bad in suing you.."
So they would know already before trying to sue me that I don't own any properties and that I don't have a personal bank account? or they would know that after suing me and getting a judgment against me?
P.S. my business bank account is under the business name and does not have my name on it. Besides I don't get any paychecks/salary on that account or any other.
If I need to file for bankruptcy with you, how much would that cost me?
Thank you very much

So they would know already before trying to sue me that I don't own any properties and that I don't have a personal bank account? or they would know that after suing me and getting a judgment against me?

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They will investigate you first to see if you have any documentable assets that they could go after. They have access to your credit reports so they can see who you owe money to and if you owe a lot and some of the accounts are in default, they are going to come to the conclusion that it probably isn't worth suing you.

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And if they actually did sue, they would subpoena any financial info as part of the case and realize that you didn't have much they could go after.

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As for filing BK, I have seen some attorneys charge as low as $800 for a simple filing... But it is the exact same process for every case so you can shop around based on price..

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And you are very welcome. Happy to help any time.

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It was my pleasure to work with you and help with your question. If you ever need me in the future, you can post a new question with "For Barrister" in the caption and the JustAnswer employees will get it to me.

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If you feel I have answered all your questions, I would very much appreciate a 5 star rating by clicking on the rating scale on your screen as that is the only way I receive credit for my work.

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Thanks much

Barrister

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Customer reply replied 8 months ago
I'm so sorry, but one more question and I am still giving you the 5 stars as you deserve it, How long could those companies go after me for if they don't sue me, and after how long I can build my credit again?
Again thank you very much and have a wonderful weekend

No worries...

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They could potentially sue you for up to 6 years from the time a payment was due and missed and the account went into default... So basically 5 more years...

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All the best to you and yours

Barrister

Barrister
Barrister, Attorney
Category: Bankruptcy Law
Satisfied Customers: 40,025
Experience: 17 years practicing law. Landlord 26 years
Verified
Barrister and 87 other Bankruptcy Law Specialists are ready to help you
Ask your own question now

Thanks very much for your question and for using JustAnswer and my services and then getting a refund when all your questions were answered by me in great detail..

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Barrister
Barrister
Barrister, Attorney
Category: Bankruptcy Law
Satisfied Customers: 40,025
40,025 Satisfied Customers
Experience: 17 years practicing law. Landlord 26 years

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The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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