simple question

[basslady13]

What is the name of your state?ar

can you file bk on just credit cards?

 

[willingtocope]

Not really. When you file, you must list all debts and assets. You can "reaffirm" on some debts...meaning you intend to continue honoring the contract...but there are limits as to how much you can keep and so forth. You usually can get out from under credit card debt, but there are some limits there also. You might pick up a copy of "How to File for Chapter & Bankruptcy" by Nolo press for further info. Or you can go to

http://www.debt-consolidation-credit-repair-service.com/phpBB2/

where they have a pretty good consumer bankruptcy forum.

 

[I AM ALWAYS LIABLE]

Not really. When you file, you must list all debts and assets. You can "reaffirm" on some debts...meaning you intend to continue honoring the contract...but there are limits as to how much you can keep and so forth. You usually can get out from under credit card debt, but there are some limits there also. You might pick up a copy of "How to File for Chapter & Bankruptcy" by Nolo press for further info. Or you can go to

http://www.debt-consolidation-credit-repair-service.com/phpBB2/

where they have a pretty good consumer bankruptcy forum.

My response:

And, you know about this first-hand, right "willingtocope"?

By the way, how's your company doing now that it's bankrupt? Money management isn't your "thing", correct?

IAAL

 

[basslady13]

garnishment

What percentage of my income can a cc company have garnished out of my wages? Do they take other debts into consideration, such as child support? Will the percentage be taken out on the income after cs payment is made or before?

 

[Ladynred]

Well, the AR statutes say the following:

16-66-208. Exemptions - Wages - Penalty.

(a)(1) The wages of all laborers and mechanics, not exceeding their wages for sixty (60) days, shall be exempt from seizure by garnishment, or other legal process if the defendant in any case files, with the court from which the process is issued, a sworn statement that the sixty (60) days' wages, claimed to be exempt, is less than the amount exempt to him under the Constitution of the state, and that he does not own sufficient other personal property which, together with the sixty (60) days' wages, would exceed in amount the limits of the constitutional exemption.

Now, I'm not clear on this at all. The statutes also go on to say that the first $25 of your NET pay per week is absolutely exempt.

In general, FEDERAL law says that the amount taken cannot exceed 30X the federal minimum wage.

HOw this would affect you with child support I'd have to look up. In many states, Child support garnishments come out no matter what and everyone else gets the left-overs - if there are any. I've also seen where they can take child support AND take out the max allowed for other debts. Child support is paramount and some people get a double-whammy.

 

[JETX]

Ladynred, this is about the fourth post by this person trying to get someone to give her an exact percentage of garnishment. I have explained it to her twice that Arkansas does not have an exact percentage.... even citing the specific statutes in one of her other posts asking this exact same question:
https://forum.freeadvice.com/showthread.php?t=183620