Tn Bankruptcy-can it help us?

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Q. I live in TN, and want to know if bankruptcy can help us. I had a van repoed back in Jan of 2003, they sold it for $5800 less than the payoff amount, and they are now threatening a judgment against me. Several questions: 1. Can a judgment force me to pay them? 2. Can bankruptcy protect me from the judgment? 3. Will bankruptcy require that I sell my personal possessions to pay off bills? 4. Can I "give" all of my assets to my wife or kids to protect them? I realize that any advice is not binding to anyone, and I hold no one responsible, but I need a starting place since I'm so naive, and this seemed like the best place.

A. I'm not familiar with Tennesse law, but generally speaking: Once they have a judgment, they can garnish your wages, attach your bank accounts, and sell your real property. Probably not. I strongly recommend speaking with a local bankruptcy attorney. Most offer free initial consultations and he or she should be able to review your specific situation and let you know what you can and can't do.

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