Even if you have not yet fallen behind on payments, it is a good idea to consult with a bankruptcy attorney to learn your options. Doing so may give you ideas for avoiding bankruptcy altogether. Additionally, you can contact a non-profit credit counseling agency (get referrals to a legitimate company) to review that option as well. Not all situations call for bankruptcy, but there is no question that bankruptcy can do more to assist you in handling debts, and it may be the only solution.
Your questions indicates that more inforamation is needed. Has a law suit been filed or not? Has the statute of limitations expired or not? The answer to your questions could depend upon the facts of the case. Even if a suit has been filed, yo ucan still negotiate a payment arrangement. However, if no suite was filed and the statute of limitations has expired, then you would not need to pay the debt. You should consult with an attorney to help you answer these questions and identify any...
No, that is not liekly true. If you are liable on the note and it does not get paid, the lender can pursue you. If you trade the car in, your will either need to make arrangments to pay the unpaid balance of the loan or expect collection actions from that lender.
Talk to an experienced bankruptcy attorney before you do anything. Trying to solve theses problems without knowing the law will only cause more problems down the road. An experienced bankruptcy attorney will be worth every penny that you pay to him to assist you in protecting your assets from creditors.
Judges in Richmond County, as in many counties, do not "drop" domestic charges easily. With everything you have at stake , you need to hire a lawyer. My firm website is listed below. Either John Manton or Harold Jones can help you with your case. They are both former State Court prosecutors and have handled many of these types of cases.
The answers that you have previously received should answer your question. If not, you will need to hire an attorney to review your situation and try to explain it to you in person. That may help clear up your lingering questions.
Even if you get a discharge, the claim remains an asset of your bankruptcy estate. The Trustee would administer those funds for the benefit of your creditors, and is entitled to commissions and fees that need to be approved by the Court. You will be entitled to any amount of the funds that are exempt in your case, or any acess funds available after paying administrative expenses and creditor claims.
How quickly you can rebuild your credit will depend upon many factors. If you have a house payment or car payment that you continue to pay, you will rebuild your credit faster than trying to use credit cards to reestablish credit.
I agree with all of the attorneys above that you should hire an attorney. Please feel free to call my office and ask to set up an appointment with Jenna Matson, an attorney in out office who can handle this case for you.