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Should i proceed with bankruptcy

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Established Contributor

Re: Should i proceed with bankruptcy


@ImTheDevil wrote:
Also, what’s the statute of limitations in your state? You may be past it, where they can’t come after you legally for the money, but only pester you in the hopes you’ll pay.

OP stated it is a default judgement and those are usually good for 10 years, but even then in most cases they can be renewed, so I'm pretty sure they can enforce collection.



Chapter 7 Discharged & Closed Jan 2020
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Re: Should i proceed with bankruptcy


@mprince75 wrote:
Bankruptcy will cost a flat rate $600 with an additional $335 from the court so bankruptcy is cheaper than the $4600 debt. I appreciate the advice but seems to me Chapter 7 is the way to go. The collection agency is weltman weinberg & reis and they are not willing to make any kind of deal. Should I try contacting the original creditor?

Wow, I had no idea you could get one as inexpensive as that. Just make sure your attorney is aware of the pending threat of them attaching your pay so that he gets it filed before that happens.  Good luck



Chapter 7 Discharged & Closed Jan 2020
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Re: Should i proceed with bankruptcy


@2b2rich wrote:

@mprince75 wrote:
Bankruptcy will cost a flat rate $600 with an additional $335 from the court so bankruptcy is cheaper than the $4600 debt. I appreciate the advice but seems to me Chapter 7 is the way to go. The collection agency is weltman weinberg & reis and they are not willing to make any kind of deal. Should I try contacting the original creditor?

Wow, I had no idea you could get one as inexpensive as that. Just make sure your attorney is aware of the pending threat of them attaching your pay so that he gets it filed before that happens.  Good luck


I paid $2650 for a no asset. Wheres this at? Leave it to a big city lawyer I guess.





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 13 of 17
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Re: Should i proceed with bankruptcy

Wait you are filing on a single debt of 4600??

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Message 14 of 17
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Re: Should i proceed with bankruptcy


@FireMedic1 wrote:

I paid $2650 for a no asset. Wheres this at? Leave it to a big city lawyer I guess.


Mine wasn't quite that expensive, it was over $2K though (and also no assets)... and he said he was giving me a discount Smiley LOL



Chapter 7 Discharged & Closed Jan 2020
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Re: Should i proceed with bankruptcy

Man, with all the things out there like Uber, Lyft, etc, I just hate to think of someone filing BK for $4600. Yes you can rebuild afterward, but is it worth the hard work and time for such a relatively (in the world of BK) small amount? I’d be racking my brain looking for ways to raise the cash. Sell plasma, do yard work, drive for a ride company, whatever - I would say they far outweigh the negatives of a BK and its associated consequences for that amount.



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Message 16 of 17
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Re: Should i proceed with bankruptcy

I'm not sure how much weight a judgment is on your CR as opposed to a BK and you're being threatened with garnishment but both are equally bad in my opinion. Most states does not allow more the 25% of your disposable earnings to be taken out as garnishment.

I would call the collection agency and offer them $100 per month or else you're filing for BK. See what they say.

Discharge Date: 7/24/2018

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