I'm brand new here and already have read a lot of posts that answer a lot of questions, don't know who all you guys are out there but you've already eased my nerves a bit. Here's my situation, I'm a writer, when I hit 55 it was pretty much it as far as work in TV, now getting some pension but barely enough to make ends meet. Still pounding the keys in hope of that big sale, but at 61, I'm beginning to wonder... So with my last job in 2003, I've barely existed, ran up my charge cards, owe about $25G to three cards and $28G to IRS, who have labelled me as "Unable to pay". Honest! So I handle the collectors okay by ignoring them, but one of them has said they are sending me a summons for a debt of $4200. They offered settlements but I fall in that judgment proof arena, no assets except my computer for writing, a 96 Ford that needs alot of work and that's it. No job, no wages, just little jobs here and there that help me barely make each month. I've never had a summons for judgment before, I live in California, and most of my questions have been answered by searching this forum Two questions: Bank account, if they do freeze it, my pension is still available as I understand, but what about my little jobs of $150-200 now and then. My bank acct is usually just enough to pay rent and a few bills. 2nd question; In the event I get a big job, can I consider an industry credit union here in LA, or go for an out-of-state bank. okay, one more about bankruptcy, can I file after I receive a summons? And about that big deal, well, it could be possible, more likely than not, but not until fall. thanks for your time, apologize for the long msg. Jim
Your pension should be "exempt" from seizure. However, if the pension is deposited into a bank account, the bank account may be frozen or levied. In such a case, it might be that the burden of prrof is on you to sort out what is exempt under your state laws. If you are "judgment proof," you might wish to have pension payments made to one of the "non-bank" accounts available online such as netspend, western union, accountnow, etc. Or, if possible, request a paper check that you can cash. Just because you have a judgment or summons to appear, does NOT STOP your ability to file a chapter 7 or 13 bankruptcy. If you don't have an income above your state BK exemptions, or own assets a US trustee might seize in a chapter 7, and don't care about your immediate credit ability, it could be in your best interest to file a chapter 7 BK and start over. Judgments can be avoided and vacated in a chapter 7 or 13. You could schedule several free initial BK appointments with BK attorneys in your area and see what they have to say. Cheers!
thanks for the information, being somewhat of a conscience-ridden type (a writer's flaw), I am honest to a flaw and want to do the right thing, but unable to do so. didn't know about the non-banks. Is a credit union a non-bank. The weird thing about this business, is that I can make a lot of money suddenly, even at my age, by selling a screenplay, of which the minimum is around $70K and there is a reasonable possiblity of that this fall. Also, can I use my screenplays as "assets", in that if the creditor wants an asset, I can give them a screenplay in the same way anyone can give a creditor an item of certain value. Now, the reality is that the screenplay might never be sold, but then, it could. Is there any reason to do this or is it just vamping? thanks for the information so far, very valuable to me. Jim
Really? Isn't the SOL in California four years? Isn't this mid 2008? Didn't you stop paying in 2003? The answers to these questions are important because if he threatened to sue you for an out of SOL debt, that would appear to be a violation of the FDCPA. Of course if he threatened to sue you and doesn't sue you, that too is a violation. We won't know that for some time, at least til you get the actual complaint. I would look to avoid mixing this money. Make sure the money they can get to is provably from your exept income such as your pension. Read the law. There is law on this. Some of it might not make literal sense. That shouldn't bother you, you apparently write for TV. If you suddenly get rich, they are going to use a supplementary proceding to ask you under oath about all the assets you have. You have to tell the truth or you could go to jail. So don't believe any nonsense you read online about how you can get a bank on some other planet and that's where your riches can stay hidden. Yes.
You will find that many people here have a conscience. They wanted to and want to do the right thing, but when credit card companies will not work with you when you fall on bad times and then charge you a late payment fee and 25 percent interest and then when you are behind they just keep ramming the late payments and default payments and over credit line penalties monthly until there is NO way you can afford to pay off these debts,hound you daily for money and then charge off your account, get a tax deduction for it, sell your account of say 10K of which you may owe 5K before all the interests and penalties, to a junk debt buyer for maybe 500 max they do not deserve your conscience as they have none. ; ) [/quote] didn't know about the non-banks. Is a credit union a non-bank. The weird thing about this business, is that I can make a lot of money suddenly, even at my age, by selling a screenplay, of which the minimum is around $70K and there is a reasonable possiblity of that this fall.
I don't mind trying to get a settlement if I have the money but I would like to know if my acct is frozen, do I still get money to live on, rent, food, etc? I can't imagine they would starve me out? Also not sure of abbrevs like DOLA, OC, SOL etc.I assume CC is credit card? Hope I can sell one, but it's a lottery these days, and at 61 a lottery with diminishing odds. Still I keep trying.
Go to the top of the forum and read the "stickied" threads. Especially the glossary, which explains all the abbreviations.
Date OF Last Activity Original Creditor Stautes of Limitation Credit Card Junk Debt Buyers Collection Attorney You have to not worry so much. You may get sued adn you may boot get sued. You really need to give us more info ,such as OC JDB DOLA etc. AS for what they can do legally and what they might do, let me just say that JDB's do not follow the rules. Like others have said, I would keep what little money I had in cash if possible and not in your bank account. Woofer
