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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 117375
Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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I am a Human Resource professional and lost my job 3 years

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I am a Human Resource professional and lost my job 3 years ago on Wall Street I am living with family right now, no savings left, no 401K left, no unemployment left, no job, no assets except a used car. I am living with my ex wife and son and they are helping with my bills and expenses until I find work. I had a lot of credit card debit and I have not been able to pay anymore. It was all with Citibank in NY and on my credit report it shows all my debt was is charged off. Now it has been with different collection companies. One of the collection companies is now sueing me for $3,000. I told them I maybe pay 20 a month and they said it must be $100 a month or they are moving forward with the law suit. I can't afford a lawyer what are my options ...HELP     They said if I pay the 100 a month then this won't appear as a judgement on my credit report.   Companies do background checks and I don't want any judgements to prevent me from getting a job.    Or do I file bankrupcy for all my debt????

Thank you for your question. I look forward to working with you to provide you the information you are seeking.

One thing you can consider is bankruptcy, because under the law an employer cannot legally discriminate against any employee or applicant for filing bankruptcy. Filing bankruptcy would extinguish all of these debts and I would believe from your description your credit score is already shot (so it doesn't matter if there are judgments or not on the report) and bankruptcy will not make that any worse and it will actually improve it beginning about 4 years from the bankruptcy.

As far as judgments, whether it is reported as a judgment or not is depending on whether or not the creditor has filed suit against you and they have no control over those reports once suit is filed and a judgment is obtained. Second, your credit report is already showing these creditors as being severely delinquent and that cannot be changed either. Thus, them saying it will not appear as a judgment on your credit report when it is already showing as severely delinquent is not really any different.

At this point, from what you have said, bankruptcy sounds like your best option to rebuild your life and your credit.

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Customer: replied 3 years ago.

I was once told my a bankrupcy lawyer that once he files it takes about 90 days in a case like mine because it is clean and simple. But if I get a job during that 90 day period that it is filed then the game changes because now I have an that true?

Thank you for your response.

It is possible the game would change if you file bankruptcy and get a job during that time, because then your income/debt ratio could change. However, being realistic, you have not had employment in 3 years and your credit is gone and if you keep waiting these creditors are just going to keep hounding you and will sue and get judgments and you will never get out from under even if you get a job. From everything you said, it sounds like putting off bankruptcy in hopes you will land a job within the 90 days when you have not landed one in 3 years is just putting off the inevitable, at least from everything you have said above.