I'm being sued for $80,000, should I file bankruptcy?
You don't understand, we're living paycheck to paycheck as it is. We do not own a home. We have no assets to seize.
(if you'd like more details on my situation, read my last ?)
If the insurance co. wins this lawsuit against us, we are so screwed. If they garnish my partner's wages, we'll be homeless. We have two children to support as well. Any advice would be greatly appreciated!
Thanks.
Oh yeah. If we did file BK, do we do it now, or wait until the suit is over?
Answers:
Bankruptcy covers any debts etc. which are current. It will not cover anything that happens after the date you file. Therefore you must wait until after the suit is done with, and if there is a ruling against you-then file. It will prevent your debtor from collecting.
Try arbitration.
Wait until the suit is over.
http://rds.yahoo.com/;_ylt=al1qtgn70bgui...
Welcome to the Legal Information Institute
Filing Bankruptcy will not relieve you of a civil judgement.
It wouldn't matter if you filed before or after you lost the civil law suit.
You would still owe the money lost in the civil judgement.
Why didn't you have renters insurance ?
To win the law suit, you would have to prove that the cause of the fire, was not your fault, IE: bad electrical wiring etc.
If the cause of the fire was your fault, matches, lighter, candle, etc.
Then you should have to pay.
idk what the law is but you should suck it up and pay what you owe...
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