QUESTION
What happens if I owe money to several creditors but do not have the money to pay back?
Asked on Nov 03rd, 2012 on Bankruptcy - Florida
More details to this question:
My daughter owes around 12k to 4 to 5 creditors and now only brings home $150.00 week what can the creditor do to her legally besides collections?
5 ANSWERS
Bankruptcy Attorney serving Phoenix, AZ
at
Law Office of D. L. Drain, P.A.
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Look to the exemptions in the state where you live.
Answered on Nov 06th, 2012 at 4:34 PM
The creditors can get a judgment. Then they can then garnish wages, attach bank accounts and take property that is not exempt. She may be a good candidate for bankruptcy because of her level of debt to her low level of income.
Answered on Nov 06th, 2012 at 4:34 PM
Bankruptcy Law Attorney serving Livingston, NJ
Partner at
Law Office of Stuart M. Nachbar, P.C.
2 Awards
Get a judgment and garnish wages, attach bank accounts, and seize personal property. She may be a candidate for bankruptcy.
Answered on Nov 06th, 2012 at 7:35 AM
Litigation Attorney serving Pearl River, NY
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Law Office of Bijal Jani
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In the event the creditors are able to secure judgments against her, then they can garnish her wages as well as try to get money from her assets (bank accounts etc). She should work with an experienced attorney in trying to resolve the settlements.
Answered on Nov 05th, 2012 at 12:32 PM
Insurance Litigation Attorney serving St. Petersburg, FL
Partner at
Gallagher & Associates Law Firm, P.A.
3 Awards
The creditor can sue her and obtain a judgment against her. A judgement creditor can garnish wages, seize non-exempt property and otherwise enforce their judgment via colleciton.
Answered on Nov 05th, 2012 at 12:15 PM