Hi All-- Need some help trying to navigate legal, credit issues that are hitting us fast. Can anyone shed some light? Discover card judgement will come April 19----attorney said they have 30 days to act -- or, go after our assets. We are declaring BK soon as we get paperwork in order. Want to sell our furnishings for much needed cash. My question --- can they come in and sell our furniture? "30 days to act" means after the 30 day time period is over, or within? Please -- anyone have wisdom on this? thank you so much
I'm not a lawyer, but I'm fairly certain that the "30-day window" you're talking about means the creditor has to wait at least 30 days after the judgment is awarded to collect on it. These laws vary from state to state, so you should really get a more definitive answer from your attorney. Any of our more "legal" folk here have better insight?
Joshua is probably correct in that they have to wait 30 days after the judgment has been memorialized by the judge. In most states they have to go back to court to get a garnishment order. A judgment says you owe the money but don't say you have to pay it. A garnishment order does that. That's how it works in most states but you have to check your state statutes to determine how it works in your state. Its far more important what you do during that 30 days or more that you have before they can strike. There are a few things you haven't told us so I'll just have to make some assumptions in order to cover all the bases. Your screen name says you are a woman so I'll also assume that you are married since you say we and therefore I'll assume you have at least one child. I'll also assume that you are the one that got sued but not your husband. I'll also assume that both of you work and that you do not live in a community property state. I'll assume that you have at least one joint checking and or savings accounts with your husband and that you also have at least one savings account for your child(ren). The real truth of all those assumptions really don't matter all that much. You will just have to make adjustments in how you go about things based on the truth or falsity of my assumptions. So the first step is to drain any and all bank accounts in which you are the only signatory and get your name off of any and all bank accounts where you are joint with someone else. That includes any savings accounts you might have for your children. Any savings accounts should be moved to an online account with a good bank that pays good interest. I could give you a great one that offers both checking and savings but I will only tell you about that bank in private email. You could also send a PM to Joshua because I know he will recommend the same one I would. I don't like to mention it in this post because we never know who might be watching and it could cause your money to get grabbed if the wrong eyes saw this post now or at anytime in the future and connect it to you. Don't actually close any bank accounts. Keep a very small amount in any accounts you now have and don't deposit any more money into them other than enough to pay any monthly fees plus maybe $5 or $10. Don't let your paychecks get deposited to any bank account by direct deposit either. Tell your employer you want paper checks if they are now paying by direct deposit. If you happen to be getting any kind of government pensions or unemployment benefits then don't change that. Let it come by EFT but drain the account the hot second that the checks come in and move the funds to another account or just get the cash out. If I were to get garnished I'd find out what time the pension money comes in each month and I'd be sitting at an ATM with a laptop or cellphone or whatever means I had available and continuously check the account until the bank said the money was available. If that was 3 A.M. so be it. I'd grab out all I could by ATM then go to the bank when it opened and get the rest. Once the money is safe as can be then on to the rest of the problems. If you own any vehicles that are free and clear you need to get a loan on them from somewhere other than relatives. Make that loan as huge as possible. If you are joint on any vehicles that are free and clear then get your name off of them. If your vehicles are not free and clear then don't worry about it. They could also get a court order to come to your home and see what you might have they could grab and sell but they normally only do that as a last resort. You thinking about bankruptcy? As far as I am concerned that is unthinkable. Informal bankruptcy is great but formal bankruptcy is a horrible solution. If you want to learn about informal bankruptcy then click on my google docs link below and I will tell you all about it. The problem you now have is that you should have started your informal bankruptcy proceedings long ago. There is still the possibility that you could be lucky and be able to find some grounds to implement it, even after they start garnishment procedures. Whichever route you choose to take, I wish you the best of luck.