Should I file for bankruptcy?
I am on SSI which provides a little over $700 and receive about $150 in cash assistance from the state. I have about $4000 of debt on one card and a little under a grand on another card. I've been told that there's no such thing as being "judgement proof" and that I can be forced to make payments.
Is this true? Can filing bankruptcy help? I live in Connecticut if that matters at all.
2 Answers from Attorneys
You are judgment proof, at least as far as your income is concerned. http://www.anderslawonline.com
Based on your income and assuming you have no assets except for money in the bank coming in from Social Security, all of your assets are exempt from creditor claims. All that the credit card creditors can do is call and try to collect, even sue. But they cannot recover any money. In short, you are judgment proof. There is no reason to file a bankruptcy.