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Can you file bankruptcy if you had a car that broke down so you got a loan for another car and they haven't repossessed the first car yet but want to do a judgment and garnishment?
Wiki User
∙ 16y ago
There isn't enough information available to answer this question effectively.
If this is your only debt you are filing bankruptcy on a relatively small amount of money. It'll cost you at least $1000 to file Bankruptcy. In my opinion it would be foolish. I wouldn't file Bankruptcy until you are forced to file, I would have to be in debt to my eyeballs and then some before I filed, it's a last resort.
I would get a beater car for $1000-2000, work an extra job to make the money, sell something, sacrifice deeply. Try to buy a car without borrowing money. Borrowing on your last car wasn't a blessing, why would you do it again, if you continue on the same path you'll continue to get the same thing.
Talk to the company or bank that is holding the lean on the car, explain the situation and attempt to release the lean. Don't be snotty, you are begging for mercy here.
I would stop paying on the old car and save the money towards paying cash for a new car before I filed for bankruptcy, then when you are back on your feet settle the bad debt. It'll hurt your credit but it's still better than filing bankruptcy.
Filing Bankruptcy is not some kind of "easy Button" if you are looking for an easy button you'll never be truly successful and you'll always be an easy target. Nothing that's worth it is easy.
If you ask an attorney this question they will most likely tell you to file bankruptcy, after all that's how they get paid.
Wiki User
∙ 16y ago
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If you want to start a wage garnishment and already have a Writ of Judgment do you need to follow the laws in the creditor's state or the debtor's state?
You can only conduct a wage garnishment in the state where the judgment was entered. If the debtor lives in another state, you will need to register the judgment where the debtor lives and use the laws of that state to start the wage garnishment.
What are the state of Illinois garnishment statutes?
Illinois garnishment statutes allow creditors to collect debts by garnishing a portion of a debtor's wages, bank accounts, or other financial assets. The amount that can be garnished depends on the type of debt and the debtor's income level. Illinois law also provides exemptions for certain types of income, such as social security benefits and child support.
If a judgment is obtained can bankruptcy be filed?
Yes...whether the judgment will be discharged or paid in BK....which MUST include ALL your debts AND ALL your assets, no picking and chosing..is another story.
Who can garnish wages in the State of Florida?
Anyone who is owed money and who receives a valid court judgment to do so. This includes but is not limited to, child support, spousal maintenance, creditor debt, monies owed individuals, medical issues (hospitals, doctors, dentist, caregivers). In theory, anyone who is owed money can file suit, receive a judgment and execute the judgment order in the form of wage garnishment of the judgment debtor. Please note, wage garnishments must run consecutively they cannot run concurrently. There is one exception, garnishment for tax arrearages and child support are usually allowed to be active while a second garnishment from another creditor is "running".
Can more than one creditor issue a bank garnishment and payroll garnishment at one time?
Not by creditors. The exception to multiple wage garnishments are, child support, federal or state tax arrearages and in rare cases spousal maintenance. Therefore a creditor could garnish wages at the same time of garnishment by the aforementioned.
What can collection agencies seize?
State laws determine the property that can be excempt from a judgment creditor. Generally it will be the same property which is considered exempt during bankruptcy with a few exceptions. The major exception would be the homestead exemption amount and/or the ability for a judgment creditor to force the sale of a primary residence. Another issue that could impact the judgment execution against any property is whether the debt applies to married couples who are not co-debtors and do not live in a community property state. The majority of judgment creditors prefer the use of wage garnishment when executing the judgment writ. In lieu of that the second choice is usually bank account levy.
Garnishment from credit card company and have now been notified you have another judgment and they are also going garnish your wages can they do this?
As long as they have a court order of a judgment against you - yes they can. There are limits though as to how much they can take out of your paycheck. In most states that is 10% of the gross pay.
Can a person with a repossession purchase another vehicle?
Yes. However, please note: 1. If the creditor who repossessed your old vehicle sued you and obtained a judgment against you, you would have to pay the judgment in full before buying another car. Otherwise, the judgment could be attached to you new car, and it too would be repossessed. 2. After a repossession, you may find it hard to get financing for a vehicle. If you need financing, check with your local bank or lenders who specialize in giving loans to borrowers with less than perfect credit.
Can bankruptcy be filed once their is a default judgment entered for repossession?
Sure. How the BK may effect any specific judgment is another story. BK effects all your assets and liabilities, you don't pick and chose which ones.
If you have two debtors seeking garnishments are they both allowed 25 percent of your pay or a total of 25 percent combined?
Judgment creditor garnishments must run consecutively. The creditor who received and executed the judgment first will be paid before another creditor can garnish the debtor's wages. If federal garnishment is used rather than state then it can be a maximum of 25% of disposable income with the first weekly based $154.50 exempt from garnishment. Please be advised, if there is child support deduction order in place it takes priority, with the primary judgment creditor's garnishment still valid but secondary in collection.
If a judgment is granted to your divorce attorney because you did not pay legal fees can your wages be garnished?
It depends on the state... Probably. * Four US states do not allow garnishment if there is another option for the judgment holder to collect monies owed (bank account levy, seizure and liquidation of non exempt property, lien against real property). Those states are North and South Carolina, Texas and Pennsylvania. In all other US states a judgment holder can garnish wages. It would be quite simple for an attorney as they already have the necessary information to execute the judgment as a wage garnishment.
If you file business bankruptcy do you also file personal bankruptcy?
I suppose you could, but even if you did manage to get the financing together to open another business, any profits from it would be subject to seizure by the court and the bankruptcy trustee to pay off the bankruptcy judgement. There is no bankruptcy "judgment." If the bankruptcy is over and you have your discharge, you can open a business, and any money you make is yours. Providing the first bankuptcy is discharged.
