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Expert: Regan Shinski - 9/26/2009


Question
Hello,
      Unfortunately, I am having a judgement put on me my for an old "credit card". I do owe the money and I am trying to pay it back but,I cannot afford it right now. My daughter passed away seceral years ago and I am raising her 3 children and I am on disability. They want to come to the house and tag items to take and sell-for the judgement. I have never heard of anything like this? Any suggestions would be appreciated.-Skyler


Answer
Hi Skyler:

I'm so sorry you are in this position.  I want to say up front that I think you should also contact an attorney office to get formal legal advice and to clarify state laws and exemptions.  There are many services for the disabled that will do this for little or no cost.

To try and answer your question, I'm first confused by you writing you are "having" a judgement put on you.  Is there a formal judgement or not?  In order to get a judgement, the creditor has to take you to court.  You have the option to fight it.  They cannot collect anything - garnishments, personal property, etc. - without the judgement formally in place.  Social security, disability, and most pensions are exempt from the creditor.

IF a judgement is in place, the creditor can try and collect personal property from you to pay it.  This process varies wildly by state.  In general, they petition you through the court to provide a listing of your personal property.  They can often also locate your personal property on their own through various means.  Each state has rules as to what is exempt.  For example, in Florida real estate is exempt, a car up to $1,000, and personal property up to $1,000.  They also can only take property you own, not lease.  This is also why I think you should contact an attorney to get your state specifics.

If you have other debts, poor credit, and this is a large judgement, I think bankruptcy may be able to provide you some protection.  I could go on and on about the pros and cons of bankruptcy.  Let's just say it may be an option for you here.  Contact a competent attorney.  Don't hold any punches in explaining your situation.

Good luck, I wish the best for you.

Regan

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Regan Shinski

Expertise

I can answer questions on collections, repossessions, bankruptcy, credit repair, credit counseling, FICO scores, credit planning, and the cause and effect of credit related decisions. I can also answer questions on collection settlements and preparing to sue your creditors for false debts and credit credit reporting.

Experience

Fifteen years ago I was financially devasted due to severe health issues. I filed bankruptcy, had a foreclosure, car repossession, tax lien, and ruined credit. I immersed myself in credit law. I settled dozens of accounts and had them removed to improve my credit. I personally sued four creditors and collection agencies and won cash settlements for their false reporting on my credit reports. Since then, I have completely recovered and have nearly $100,000 in revolving credit lines and perfect credit. I have owned a credit repair company for the past five years and have an additional three years of specific work in the collections and debt management industry. I am fully versed in the Fair Debt Collection Practices Acts (FDCPA), Fair Credit Reporting Act (FCRA), and have used them successfully in collection settlements and lawsuits for myself and others. I am also familiar with and abide by the Credit Repair Organizations Act (CROA). I have deleted or helped delete literally hundreds and hundreds of derogatory items from consumers' credit reports and helped negotiate many settlements with collection agencies and creditors. I have also advised people on bankruptcy at any stage. In the current credit market, I have successfully advised numerous people on how to obtain credit and how to negotiate for better terms.

Education/Credentials
BA University of Minnesota

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