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  1. #1
    Join Date
    Sep 2008
    Posts
    2

    Default Credit Card Co. Filed Judgement Suit, What Can I Do

    My question involves bankruptcy in the state of: Texas

    Due to circumstances, we had to default on 2 bank credit cards. Both banks have filed suit against me personally since both were in my name only, not my wife and I jointly. One has received a judgement against me.

    We have a couple of other cards and 2 vehicles that we've been able to keep current. We have not used the other cards in quite a while but have been able to make the scheduled payments. I assume that we should continue to not use a credit card to make a purchase unless it's for an emergency only like a doctor, dentist, ect.

    What should or can I do at this point?
    1. Am I at risk of having items that are paid off posessed or bank account and/or small IRA frozen and taken?
    2. Should I consider filing for personal bankruptcy without filing jointly with my wife?

    Thank you,

  2. #2
    Join Date
    Sep 2005
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    Behind a Desk
    Posts
    98,846

    Default Re: Credit Card Co. Filed Judgement Suit, What Can I Do

    If you have filed for bankruptcy, you can talk to your bankruptcy lawyer about the automatic stay and what debts you can expect to be discharged.

    If not, you need to consult a bankruptcy lawyer.

    Your IRA should be safe from any collection actions.

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