Legal Question in Credit and Debt Law in Georgia
My wife has a judgement against her in Dekalb County, GA for an $18,000 credit card debt. We lost the case several months ago and I called plantiff lawyer to tell him we were near destitute and in danger of losing our home. Also, I recently lost my job, although my wife still has hers. Anyway, plantiff has just filed an order to garnish my wife's bank account. There is no savings there and very little money otherwise. What should we do. My wife is,distraught and has,a heart condition otherwise.
2 Answers from Attorneys
A garnishment of her paycheck is probably in the works now. The usual choices after a judgment are to settle with a cash payment to them, file for Bankruptcy or let it go and accept the garnishments (and not keep money in bank accounts). There is much less of a bargaining position after a judgment.
It depends on the assets/income. If your wife gets exempt income like Social Security, her bank account cannot be levied. However, for this much debt, bankruptcy is your only option other than trying to work out a payment arrangement unless your wife is judgment proof. With a judgment, a creditor will garnish wages (if applicable), levy bank accounts and seize things that are owned free and clear like a car.
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