Should I file chapter 7?

[cruzer]

What is the name of your state? pennsylvania

I have 2 judgments for $19,000 against me and 2 old credit cards for about $15,000 that I haven't made any payments on since 1999. I've been married for about 10 years, but the house is only on my wife's name. The mortgage is current. No car payments. We do have two cars but they are paid for. My wife makes about 30k per year and I'm currently receiving unemployment. We have a child together. I've been laid off three times in the past five years and been unemployed since november of 2005. I pulled my credit recently and I noticed that these old bills are still on there. These old credit cards were only under my name. Are these judgments liens against the house even though I'm not on the deed, title, or mortgage? Can I file for bankruptcy by myself or will my wife need to be included? Will I qualify for chapter 7 since the laws have changed? Or should I just ignore these bills?

 

[Ladynred]

Are these judgments liens against the house even though I'm not on the deed, title, or mortgage?

No, if your name is not on the house there can be no lien.

I pulled my credit recently and I noticed that these old bills are still on there.

If you defaulted on all of those accounts in 1999, then they should all be dropping off this year, depending on what time of year they went bad. If they remain, dispute them as obsolete.

Can I file for bankruptcy by myself or will my wife need to be included?

You can file by yourself, she does not have to file too.

Will I qualify for chapter 7 since the laws have changed?

The new formulas for income are very complex, and the income considered is from the 6 month prior to your filing. Household income is also considered, moreso than it was in the past. I would urge you to consult a couple of bankruptcy attorneys and find out exactly where you would be.

The statute of limitations in PA is 4 years. All of the 1999 debts, except the judgments, would be beyond the SOL. Unfortunately that doesn't stop collections and it will not prevent them from suing you. It DOES give you an affirmative defense in court to use to get a case thrown out. IF yiou pay them a single dime, you will reset the SOL. If all these will fall of your credit reports soon, collectors will have no leverage left to make you pay.

Bankrutpcy will get rid of the judgments and the old debts. In PA you can choose state or Federal exemptions and with 2 paid-for cars, you will probably want to use Federal.

 

[cruzer]

judgments

In pennsylvania it looks like a judgment is enforceable for five years. What happens after that? Can it be renewed, and if so, for how many years?

 

[cruzer]

bankruptcy

Also, if I file for bankruptcy by myself, does the court still counts my wife's income since she is working?