Author Topic: Making Yourself Judgment Proof  (Read 206873 times)

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Bruno the JDB Killer

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Re: Making Yourself Judgment Proof
« Reply #270 on: January 20, 2017 01:05:27 PM »
How about you take social security at age 62? Would that cover the mortgage?
I am not an attorney. Any information I post is strictly my opinion and should be treated as such.

Dazed

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Re: Making Yourself Judgment Proof
« Reply #271 on: January 20, 2017 03:11:39 PM »
My Social Security would not be enough to cover the mortgage.  The upkeep on my home is becoming physically more than I can do. I took a pretty hard fall a few years ago that injured my hands badly and with age the damage is only getting worse so losing the house is ok.  Also home prices here have been on a downward spiral for the last couple of years leaving me with little or no equity. 

During my career as a state employee I could not pay into social security.  My state retirement is viewed by Social Security (SS) as a Windfall and as a result my SS payments will be cut almost in half.  If I choose to take social security it will kick my income up just enough to put me over the Medium Income for filing Ch 7. 

 

Flyingifr

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Re: Making Yourself Judgment Proof
« Reply #272 on: January 20, 2017 03:42:56 PM »
I believe either you are under a couple of misconceptions or the BK laws vary a LOT between States. Here is my experience in AZ:

As to residency before filing Bankruptcy - when I did my CH13 many years ago the residency requirement was "the greater portion of the past 180 days" which translates to 91 days, not 2 years.

Check your State Laws about how much of your pension is safe from creditors. Here in AZ, when you have non-attachable funds going into a bank account, the balance in that account equal to two months of those exempt funds are also exempt.

It seems like the loss (either through foreclosure or sale) of your house is a given, so if you have no ties to Washington State, you may do some "forum shopping" for debtor friendly States. Texas, Delaware, Arizona (for the two reasons I mentioned) and Tennessee come to my mind as being debtor-friendly in one way or another.
BTW-the Flyingifr Method does work. (quoted from Hannah on Infinite Credit, September 19, 2006)

I think of a telephone as a Debt Collector's crowbar. With such a device it is possible to pry one's mouth open wide enough to allow the insertion of a foot or two.

Debtors Exams are the perfect place for us Senior Citizens to show off our recently acquired Alzheimers.

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Dazed

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Re: Making Yourself Judgment Proof
« Reply #273 on: January 20, 2017 09:01:34 PM »
My understanding of Bankruptcy laws are more total ignorance than misconceptions, I am not sure I know enough yet to have a misconception!  Maybe I am putting into much emphases on the Median Income but I was under the impression that I had to be below the Median Income for my state to file Ch 7.  My kids are on the west coast and living in Washington puts me close to them but the primary reason for thinking of Washington was my income came in below the Medium Income. 

Thank you, I appreciate your thoughts!

Dazed

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Re: Making Yourself Judgment Proof
« Reply #274 on: January 21, 2017 12:50:02 AM »
Ok, it is making more sense now I had these two confused...

The 730-Day (2-year) Rule
Before you can use a state’s bankruptcy exemptions, you must be continuously domiciled in that state for at least 730 days (2 years) prior to your bankruptcy filing date. Otherwise, the 180-day rule determines which state’s exemptions you must use. As a result, if you recently moved to a new state and want to use that state’s exemptions, you will typically need to delay filing your bankruptcy.
The 180-Day Rule
If you have not lived in your new state for at least two years, then you have to use the exemptions of the state where you were domiciled for most of the 180-day (6 month) period before the two years preceding your bankruptcy filing. So if you still want to use your old state’s exemptions, this rule can help you as long as you file your bankruptcy within two years of moving (otherwise you will have to use your new state’s exemptions).


muddywater

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Re: Making Yourself Judgment Proof
« Reply #275 on: February 20, 2017 04:24:26 PM »
I saw on my local courts websight (Tucson Arizona) that Zwicker <Removed>. had filed a complaint on behalf of Synchrony bank (Care Card) It would seem they are inhouse because it is still on my credit report. The filling was on 10FEB2017, no service yet. My guess is a scare tactic or looking for a easy default..... Because it seems to me they must know I am a 100% disabled vet, I have no job and never will, My bank is direct deposit with Fed deposits protected under title 31 rule 212, own a home but it is Homestead and has very little equity, own car with no equity, and as far as personal property I have less then the 12,000.00 allowed by my state, and since AZ is a CP state ( my wife is not named so far) She has nothing.....So it would seem I am collection proof. IAW A.R.S. 33-964 if I read it right they can not even put a lien on my home ever. If I do get served I will answer and fight it as best I can, just to cause them pain, I do not want them getting an easy win.... So my question is does all of this sound right, or am I missing something? Thank you.


:tos:


Admin Note:  Inappropriate language removed.

« Last Edit: February 21, 2017 08:01:54 PM by Admin0248 »
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Bruno the JDB Killer

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Re: Making Yourself Judgment Proof
« Reply #276 on: February 20, 2017 04:41:05 PM »
You could make them aware of your situation with documentation, and they will probably give up. Right now you are just another account number. If you are not collectible, they won't expend a lot of time on your case.
I am not an attorney. Any information I post is strictly my opinion and should be treated as such.

muddywater

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Re: Making Yourself Judgment Proof
« Reply #277 on: February 20, 2017 04:46:57 PM »
I did draft a letter to their attorney letting them know all this and was going to send it CMRRR but my wife thought it sounded like a Nana Nana Boo Boo cant get me. I said in the letter "Let me save you some time and money" If it is the best thing to do and does not seem as im slapping there d*ck in the dirt then I shall........
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Bruno the JDB Killer

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Re: Making Yourself Judgment Proof
« Reply #278 on: February 20, 2017 08:28:54 PM »
Word it properly and send it. The next move is up to them. What law school did wifey graduate from?
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Flyingifr

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Re: Making Yourself Judgment Proof
« Reply #279 on: February 21, 2017 03:08:58 AM »
I saw on my local courts websight (Tucson Arizona) that Zwicker <Removed>. had filed a complaint on behalf of Synchrony bank (Care Card) It would seem they are inhouse because it is still on my credit report. The filling was on 10FEB2017, no service yet. My guess is a scare tactic or looking for a easy default..... Because it seems to me they must know I am a 100% disabled vet, I have no job and never will, My bank is direct deposit with Fed deposits protected under title 31 rule 212, own a home but it is Homestead and has very little equity, own car with no equity, and as far as personal property I have less then the 12,000.00 allowed by my state, and since AZ is a CP state ( my wife is not named so far) She has nothing.....So it would seem I am collection proof. IAW A.R.S. 33-964 if I read it right they can not even put a lien on my home ever. If I do get served I will answer and fight it as best I can, just to cause them pain, I do not want them getting an easy win.... So my question is does all of this sound right, or am I missing something? Thank you.

They don't know you are Judgment Proof until you show them. Telling them doesn't cut the mustard, proof is what they need - documentation. The only problem is - in showing them that you have nothing they can touch you necessarily have to show them what you have that they can't get at - sorta like dangling a steak in front of a hungry dog and expecting the dog to realize "that steak is not for me".

I have posted several talk-offs showing how to talk to a debt collector (and that is just what a collection attorney is) -  to read them do  a search in DB for "talk off" posted by me. I, too live in AZ and I, too, am Judgment Proof. The funny thing about AZ is the SOL for debt is 6 years and the SOL for Judgments is 5 years.
« Last Edit: February 21, 2017 08:00:22 PM by Admin0248 »
BTW-the Flyingifr Method does work. (quoted from Hannah on Infinite Credit, September 19, 2006)

I think of a telephone as a Debt Collector's crowbar. With such a device it is possible to pry one's mouth open wide enough to allow the insertion of a foot or two.

Debtors Exams are the perfect place for us Senior Citizens to show off our recently acquired Alzheimers.

Founder of the Credit Terrorist Training Camp (Debtorboards)