Legal Question in Bankruptcy in California

What does Judgement Proof mean? Should I just let a Judegement Happen?

Looking at the message board I see the term ''Judgement Proof'' a lot. What does that mean and would I be consider in that catagory

I have $30,000+ in debt thinking of filing BK; only $1100.00 in checking and $150.00 in savings, unemployed, no personal property (live at home with mother taking care of her as best I can when I do find work, she's been ill)

-Alex

Asked on 8/03/03, 7:09 pm

3 Answers from Attorneys

Chris Johnson Christopher B. Johnson, Attorney at Law
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Re: What does Judgement Proof mean? Should I just let a Judegement Happen?

I think you have the idea--judgment proof is lawyerspeak for a person with no assets and little hope of acquiring assets.

Your problem may come when you get a job--if there's a judgment against you, your wages can be garnished, along with your bank accounts, so you may want to consider bankruptcy and also responding to any lawsuits you may receive. You can also try negotiating with the debtors before the lawsuits, if any, are filed.

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8/05/03, 1:03 pm
Robert F. Cohen Law Office of Robert F. Cohen
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Re: What does Judgement Proof mean? Should I just let a Judegement Happen?

A person who is "judgment proof" usually has no assets and has little or no hope of accumulating assets, such as income or real property. You indicate, Alex, that you're looking for work. If you find a job, a lawsuit and ultimately a judgment could be brought against you, and a portion of your wages garnished and everything in your bank account seized. Usually, it's not good to let a judgment just "happen". If you file an answer to the lawsuit, at least you're in a better position to negotiate a payment plan perhaps on a reduced amount. Good luck to you. -Robert F. Cohen, Esq.

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8/03/03, 8:35 pm
Robert Mccoy Law Office Of Robert McCoy
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Re: What does Judgement Proof mean? Should I just let a Judegement Happen?

Now is the time to file for bankruptcy before you get a job. If you get a job making enough money, the trustee in bankruptcy may require you to make payments to your creditors over the next 5 years. File now and say you are unemployed and cannot pay back your creditors. Then when you get a job there will be no judgments for you to worry about.

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8/15/03, 9:02 pm

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