To File or Not To File

Desiflavour101 · ‎03-24-2015

Hello Everyone,

I have a friend who is in a dilemma of whether to file for bankruptcy.

Here is how her credit report looks: with the exception of GM Financial for $11K (repo) and judgment for $30K, almost all of her baddies have fallen off. GM financial will remove Jan. 2016 and judgment is June 2016.

My concern for her is the renewal of judgement as it happened to someone else. She pays the creditor holding her judgment $50/month otherwise they will suspend her license.

Should she still go ahead and file for bankruptcy?

Your advice will be appreciated.

**Gardening until Sept. 2016...**
BK 7: Filed March 2013/Discharged June 2013
FICO Score: 580 at the start
Barclay Rewards VISA $2,500, Barclay Rewards MC $2,300, Capital One Quicksilver One $1,750, Capital One Quicksilver One $1,500, Care Credit $2,000, Fortiva $4,000, & Walmart $1,200.

DE2TX · ‎03-24-2015

I would probably wait to see if the judgement is renewed before I would even consider filing. Only the state has the power to revoke a DL though, so is this a tax lien or a judgement?

Desiflavour101 · ‎03-24-2015

Its judgment.

Car accident resulted in lawsuit from insurance company.

In FL, where we reside, your DL can be suspended if its judgment re automobile insurance.

**Gardening until Sept. 2016...**
BK 7: Filed March 2013/Discharged June 2013
FICO Score: 580 at the start
Barclay Rewards VISA $2,500, Barclay Rewards MC $2,300, Capital One Quicksilver One $1,750, Capital One Quicksilver One $1,500, Care Credit $2,000, Fortiva $4,000, & Walmart $1,200.

DE2TX · ‎03-24-2015

@Desiflavour101 wrote:
Its judgment.

Car accident resulted in lawsuit from insurance company.

In FL, where we reside, your DL can be suspended if its judgment re automobile insurance.

Hmm, I'm not even sure that type of judgement can be included in a BK. I know in some states, some types of judgments can't be included in a BK, but if your friend goes for a 13 then maybe she can pay less than is owed.

Either way, I would still wait to see if it is renewed.