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  1. #1
    Join Date
    Dec 2009
    Location
    Sav'h GA
    Posts
    2

    Question Credit Card Debt, Loss of Job

    My question involves bankruptcy in the state of: Georgia


    Like many people, I too am in credit card debt. Through no fault

    of my own, Jan 09, I lost my job, also like many others. The

    owners up and sold the business without telling any of the

    employees. And as of this date, I still do not have full time

    employment. I was hired back by the new owners after the

    business changed hands, for which Im grateful, but was without

    any income for over 4 months while new owners remodeled.

    I was hired to work 3 nights, but now am cut back to 1, and

    feel by the 1st of the year, they will also fold. Back to

    square one again.

    In those 4+ months, I fell behind on my credit card payments,

    interest rates,high, late fees, and over limit fees. I AM NOT

    saying in any way that I dont owe the credit cards, what Im saying

    is now, Im so far behind, can not make the large payments they

    want to get my accounts current. I get calls from 8am-9pm

    7 days a week, thank god for my answering machine.

    I have talked to the companies, and they want hundreds to

    get caught up, we dont have it. My husband is the only one

    working, and his income cant pay all bills and the large

    payments the CC companies want. I owe aprox $18,000



    What I want to know is :

    Im married, husband was not on my credit cards,only an

    authorized user, can they go after him for my debts?

    Can they garnish his wages?

    I own my home, all paid off, and 2 cars, also paid,

    can they take my home and cars?

    And my checking account, can they freeze that?

    We have even talked about divorce, thinking they

    cant go after him if we are still married.

    My home and cars, should I add my husbands name?

    To file bankruptcy seems my only option, but dont see how

    when we dont have 1000+ for that, plus court fees.

    When people are broke, cant pay their bills,how do they file?

    Yeah, good question.

    This whole situation is making me ill, I dont know what to do.

    In January, I will be served to appear in court, per a letter

    from CC company, I will appear, absolutely terrified.

    Yes, I know,Im screwed !

    Please offer some advice, and suggestions, and thank you.

  2. #2
    Join Date
    Jan 2008
    Location
    Toledo, OH
    Posts
    16,307

    Default Re: Credit Card Debt, Loss of Job

    Im married, husband was not on my credit cards,only an authorized user, can they go after him for my debts? Can they garnish his wages?
    No, and no.

    I own my home, all paid off, and 2 cars, also paid, can they take my home and cars?
    No, but they can file judgment liens if they obtain judgment against you in court.

    And my checking account, can they freeze that?
    Yes. If you and your husband maintain a joint account, you'll want to fix that.

    To file bankruptcy seems my only option, but dont see how when we dont have 1000+ for that, plus court fees.
    Filing fees for bankruptcy in the state of Georgia are $274 for a Chapter 13 case, and $299 for a Chapter 7. You may even qualify to pay it in installments, and sometimes the court will waive the fee entirely.

    Read more here and contact your local Bar Association for a referral to someone who can help you file for little to no cost.

  3. #3
    Join Date
    Dec 2009
    Location
    Sav'h GA
    Posts
    2

    Question Re: Credit Card Debt, Loss of Job

    Thank you for your answers, and help..could you please tell me what a judgement lien is? I was told that yes, a judge could order my house sold to repay my debt..
    I could probably borrow the filing money from family, but any ideas as to how much for an attorney?

    This is a quote from another site, where I posted the same question..Im desperate, actually sick to my stomach with this, and depressed...but most of all...Im scared.

    Here's what another person said : "You have assets, a free and clear home and 2 free and clear cars-- so yes they will sue you and get a judgment they can freeze your checking/savings accounts and will more then likely put a lien on the house- you wont get that far in bankruptcy court either because you have assets. You could do a chapter 13 but if 18k of unsecured debt is all you have -- that may not work either. You may need to get a loan on one of the cars or on the house to pay back this card."
    And just tell me how I would get a loan, with no job, and my credit being shot? Im thinking of putting my husband of 7 years on the title of my house, so maybe he could obtain a loan...How do I do this? Not sure what part of court to go to...Thanks for your time !

  4. #4
    Join Date
    Jan 2008
    Location
    Toledo, OH
    Posts
    16,307

    Default Re: Credit Card Debt, Loss of Job

    Thank you for your answers, and help..could you please tell me what a judgement lien is?
    A judgment lien allows a creditor to obtain judgment against you, then place a lien against all of your property so that you cannot sell it until the lien is paid.

    If you file for bankruptcy, whether or not you can keep the cars and house (in a Chapter 7) would depend on how much of the equity of those is exempt. It seems to me that you'd probably not qualify for a 7, but would need to go with a 13 (repayment plan).

    I could probably borrow the filing money from family, but any ideas as to how much for an attorney?
    That varies. Again, contact your local Bar Association for a referral, or several referrals. You'll need to discuss fees with each individual attorney - and the attorneys will be much better able to tell you what you can and cannot exempt, and which bankruptcy plan is right for you.

  5. #5
    Join Date
    Mar 2009
    Location
    Key West, FL
    Posts
    2,350

    Default Re: Credit Card Debt, Loss of Job

    You need to research your state's law.

    Here in Florida, for instance, your home (legal homestead) is exempt from execution. A creditor can not take your house. Also, one car is exempt. A second car, boat, investment property is fair game.

    Separate your assets as much as possible from your husband and do it before you are served with any civil action. However, if Georgia is a community property state, that might be a problem. You need to speak with an attorney.

    Do not rush into bankruptcy.

    There are ways to beat credit card companies in court but you need a good attorney that knows how this all works and is willing to make the arguments.

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