Legal Question in Bankruptcy in California

bancruptscy or not

it seems i have a judgement against me for 70,000 dollors . i am unable to pay this since i am recieving income from a trust account whih only pays 3000 per month . this is all my income .i have other debts but noone bothers me , this judment i am to appear in court in ten days and bring all pertinent informtion . can they take my car and my posetions in my house . and the income i recieve is part of a familly realestate property that is devided up by my brother who is the executer of the estate , am i better off going bankrupt or going to the examination , is there a way to protect the income . and if he does get this judgment inforced since this is my sole income how much if any is he allowed to take . there is already alein on my car . so i dont even know my right s there . plese let me know what you think


Asked on 10/24/99, 1:45 pm

1 Answer from Attorneys
Mark Markus Law Office of Mark J. Markus

Re: bancruptscy or not

Sounds to me like bankruptcy is an important option for you to consider. Depending on how the trust is set up, I believe that the creditor can get a lien on those payment, up to 25%. I am not certain of that and you may wish to check with a state court attorney who specializes in collections. However, I can tell you that you are going to have an extremely difficult time paying of a $70,000 judgment with gross income of $3,000 per month. My suggestion would be for you to give me a call and we can go over your situation in detail and decide on the best alternative for you.

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Answered on 10/25/99, 7:32 pm


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