Depending on a number of factors, you likely qualify for chapter seven liquidation. I HIGHLY recommend you contact a bankruptcy lawyer. I can tell you this: the lawyer fees will be Less than the 90k judgment.
There is way too much information needed to determine if you qualify for bankruptcy.
The fact that a default judgment was entered is only a tiny question and does NOT prevent you from filing bankruptcy.
It sounds like you need to contact a competent, local consumer bankruptcy attorney and discuss all the details and the pros and cons.
If you need further clarity, please email me at MICHAEL@MIRELAND.US Answers to questions are for general information purposes only and do not establish an attorney-client relationship. This is not legal advice, simply information. You SHOULD NOT act on this information without consulting a competent bankruptcy attorney in your area and providing ALL relevant information.
That is a very large judgment. Has the creditor started collection efforts? What was the lawsuit that resulted in the judgment? Why did you not take action before the judgment was entered? As you can tell your question opens up a lot of questions. You need to consult with an attorney about all your options including bankruptcy. You can contact my office for a free consultation.
Karen J. Porter
Not enough information has been provided. Although that is a large judgment, in order to qualify for bankruptcy,a number of other factors are taken into consideration. There are many good BK lawyers in your area. Go speak to one or more and provide all the details needed to assess your ability to file. If you have a case, you will need a lawyer anyway so why not start looking now?
Michael in my office does free, no obligation, consultations. He would be happy to speak with you. This is not a solicitation. Speak with him then feel free too hire the lawyer of your choosing!
I am an attorney licensed to practice law in Ohio and some Federal Courts throughout the United States. I am not answering your question to solicit you as a client and there is a good chance that I am not licensed to practice law in the state that you reside. I hope that you find my assistance beneficial and, at most, use my advise as a finger pointing in the right direction. An attorney client relationship is not established by posting back and forth online. One of the most beneficial aspects of working with an attorney is the attorney client privilege which does not exist when you post personal facts online to faceless strangers. Hire an attorney if you want specific legal advise. If you cannot afford one, call your local bar association or search "(your city) legal aid" online. The fact that you took the time to post your question online likely means that you could use the aid of an attorney. Call around your area and see if any local attorneys offer free consultations.
The debt itself probably provides substantial reason to consider bankruptcy, but there are many considerations in whether you can or should file, when, under what chapter, etc. The scope of this space does not afford an opportunity to assess the situation and advise you. I recommend you assemble for legal consultation: (1) your income information for September 2012 through the present, including wages and unemployment during that period; (2) all your bills (copies neatly assembled, back pages included); (3) last four years’ tax returns; (4) a credit report (use www.annualcreditreport.com to obtain free report if not requested in last year); and (5) other information that may apply, such as copies of lawsuits. Call at your earliest convenience to afford the most opportunity in which to be advised about your best course. You are not required to use an attorney in your area.
I do not recommend filing bankruptcy on your own. There are too many complex issues. I have seen several posts on this site for debtors who filed on their own and are seeking counsel concerning complications. Most of them will have a hard time finding an attorney to get involved to unwind the mess without the attorney charging several times what would originally have been paid.
The scope of this space does not afford an opportunity to adequately advise you. The response provided is intended to be informative, but not final. You are advised to arrange a consultation at which all facts and documents can be explored and terms for representation agreed. An attorney-client relationship must be formally established.