Tn Bankruptcy-can it help us?

Edwards Finance > Loans

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.

Ask Edwards a Finance Question

Other Questions:

new bankruptcy law: when take effect?

The bill you're referring to was *not* passed into law (thank heavens). Different versions were passed by the House and Senate, and the Conference bill was passed by the House but not be the Senate. The credit card companies (which paid $40 ...

I am a Canadian citizen. I was a temporary (TN1) worker in the U.S. (New Jersey) for the past couple of years. I left the U.S. in May 2002 to return to Canada, but my apartment lease expires in January 2003. There's a growing debt there (ove...

Federal income tax what is a dependant? Who can be a considered a dependant on the federal tax form? Is there a URL that explains it all? Also even if someone qualifies for that status and the person that is their provider does not use them ...

T2 Corporation income tax questions? he only problem with filing EFF for Ontario is that the tax year is never assessed and thus is never statute barred, if that makes any difference to you. All of the below information should be in the...

On March 26th, 2003 I sent my both federal and state return via USPS Certified Mail. While the state return arrived a couple days after I sent it (March 31st), there is no evidence that my federal income tax return was deliveded to IRS servi...

Edwards Finance Menu

Ask a Question
About Us / Me
Contact Me
Privacy Policy

Sitemap

My Favorite Sites

PFBlog
Google Finance
Yahoo Finance
Motley Fool
Nveille's Financial Blog
AllFinanceMatters
Free Money Finance
2MillionBlog
The Terror Finance blog

Q&A Subjects