judgements/tax refund
Date: Wed, 01/28/2009 - 15:56
Here is my situation, i was getting ready to file for bankrupcy because i've fallen so behind on my accts there is now way i can off my debt, especially now that i went from a 60k a year job to a 27k job. My father told me not to file for it b/c most of these acct will come off my report in 2011-2012 (7year rule). and the bankrupcy stay with you 10 yrs, and from what i understand it stay on your report forever(public record) is he correct?
Also i have a jugdement agaist me for a cycle loan that was totalled and loan defaulted. i'm in NC so i know my wages can't be garnished but what about my tax refund? i know only child support, taxes, and college loans are what the IRS will garnish but i've read in other sites about a "setoff" where they basically trace your direct deposit and take it out of your bank? is this true?
Also i have a jugdement agaist me for a cycle loan that was totalled and loan defaulted. i'm in NC so i know my wages can't be garnished but what about my tax refund? i know only child support, taxes, and college loans are what the IRS will garnish but i've read in other sites about a "setoff" where they basically trace your direct deposit and take it out of your bank? is this true?
your answer
you need to speak with a bankruptcy lawyer....usually initial consult is free.
If you have a judgement against you, they can hit your bank acco
If you have a judgement against you, they can hit your bank account--if they know where you bank...I had it done to me once..I ended up filing bankrupcy to fix that problem..
yES AND NO AS FAR AS THE 7 YEAR RULE....EVEN AFTER THE SOL THEY
yES AND NO AS FAR AS THE 7 YEAR RULE....EVEN AFTER THE SOL THEY WILL CONTINUE TO COLLECT AND ANY TIME YOU SPEAK TO THEM OR MAIL THEM YOU HAVE REACTIVATED THE ACCOUNT SO IT BASICALLY STARTS OVER AS FAR AS BANKRUPTCY BEING ON YOUR PUBLIC FILE FOREVER THAT IS NOT TRUE IT ENDS AFTER 10 YEARS.BANKRUPTCY WILL CLEAR THE JUDGEMENT AND IF YOU QUALIFY TO FILE CHAPTER 7 YOU CAN RID ALL YOUR DEBTS.