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Have I time to file

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Dadboy

Junior Member
What is the name of your state?

I reside in Georgia and I am considering filing for Chapter 7 bankruptcy.
I have zero assets and I am self employed. Do I have time to file before the new law takes effect ? Should I file or not ?
 


Ladynred

Senior Member
Yes, you have time to file, the new law goes into effect on 10/17.

Should you file ?? Hmmm.... where'd I put that crystal ball ?? :D

No facts to go on.. sorry.
 

Dadboy

Junior Member
Have I time

Ladynred said:
Yes, you have time to file, the new law goes into effect on 10/17.

Should you file ?? Hmmm.... where'd I put that crystal ball ?? :D

No facts to go on.. sorry.
Thank you for your response.

This is my first try at this format so forgive my be tentative.

I am not sure if I should file, I have over $30,000 in debts, no assests and I am self employed. I have read where sometimes the best thing to do in this situation is to do nothing.
 

Ladynred

Senior Member
Let me say this then. Since you are self-employed, your total income is considered 'receivables'. As such, if you are sued and a judgment rendered against you, a judgment creditor can take ALL of your income ! Since you have no 'wages' to garnish, receivables are 100% fair game.

Does that change your perspective any ???
 

Dadboy

Junior Member
Ladynred said:
Let me say this then. Since you are self-employed, your total income is considered 'receivables'. As such, if you are sued and a judgment rendered against you, a judgment creditor can take ALL of your income ! Since you have no 'wages' to garnish, receivables are 100% fair game.

Does that change your perspective any ???
My small business is incorporated how does that affect a bankruptcy and/or collections.
 

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