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Need Help ASAP-Credit Card Judgement Suit Questions

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blarson24

Junior Member
What is the name of your state (only U.S. law)? California. I was out of work last year and got behind on a couple credit cards. They have gone to collections and now I'm being sued for a judgement for them both. I have to answer one of them by friday, which explains the urgency.

My first question is, if I don't answer, does that shorten the amount of time before they will get a court date and get a judgment, or will it take the same amount of time to go to court whether I answer or not? If I try to settle at some point I want to save the $450 dollars it will cost me to file the 2 answers.

Second question, what is the typically amount of time right now for a case to go to court to get the judgement and start garnishing wages and bank accounts?

Third question, I heard they can garnish my wages 25% of gross income, but if there are 2 suits, how can they both garnish 25%? I wouldn't be able to survive.

How do they find out who my employer is and what my bank accounts are to start garnishing them?

Last one, if I chose to file BK, and I have an investment account that I got the money for from a loan, would I be in danger of losing the money in that account?

Thanks you so much in advance for any advice. It is very much appreciated.
 


nrknlknek

Member
Question 1: If you don't answer, they will enter judgment plus possibly hold you in contempt, so advise you to answer.

Question 2: Hard to be precise, but you would be looking at weeks, not months.

Question 3: They can garnish 25% for each creditor. States vary on this, so check CA law, but typically it is 25% of disposable income, not gross; so you are lookig at 50% of your disposable income. There may be an annual cap in CA. I don't know.

Question 4: They will do a debtors examination.

Question 5: Cannot answer based on information provided, but generally in BK, you forfeit any assets that are not exempt in exchange for discharge from your creditors.
 

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