Civil Proceeding 30 day answer

[dabbott56]

What is the name of your state?
Georgia
I was served with a legal proceeding for money owed on a mobile home that I thought I co-signed on. It turns out I acutually signed as the guarantor. The mobile home was repossessed and then sold with the balance due of $24,000. When I signed on this loan I was married, I am now divorced. I am now a single mother with a house payment and a recently diagnosed long term illness. I am unable to work a 40 hour week due to my illness and am barely hanging on to my house. Do I have any recourse other than bankruptcy that will help me get rid of this debt? If my wages are garnished I will definitely go under.

Thanks for any help.

 

[I AM ALWAYS LIABLE]

My response:

Then your answer is simple. File for Bankruptcy - - and do it NOW!

IAAL

 

[Rainaraines]

A few questions for you:

Were you the only person on the loan?
When was the last time a payment was made?

 

[I AM ALWAYS LIABLE]

A few questions for you:

Were you the only person on the loan?
When was the last time a payment was made?

My response:

All of this is irrelevant because it's too late for the answers to these queries to make any difference. The fact is, our writer has been sued and served. The fact is, our writer has no money for a Defense of the lawsuit. The fact is, she was the guarantor of the loan. The fact is, she doesn't have $24,000.00

The fact is, Bankruptcy is her only way out at this point - - unless she has a rich uncle. But, trailer people don't usually have rich uncles - - or they wouldn't be living in trailers in the first place.

IAAL

 

[dabbott56]

If I file for bankruptcy will I lose my house? Do I need to file before the 30 day response period is up?

 

[Ladynred]

That depends on how much equity you have in your house. If you have more equity than can be exempted, then its a possibility. Exemption for personal and real property (house) is an aggregate (total) value of $10,000.

If you're going to file BK, you should do it before the court date, if you have one. You can do an emergency filing and that will be enough to stop the lawsuit. For CH 7, the filing fee is $209 and you'd have to pay that. The 'emergency' filing is minimal paperwork, you would then have 15 days to complete and file the rest of your BK papers.