Legal Question in Bankruptcy in Texas

Law suit, is Bankruptcy the answer?

I borrowed more money than i should have from a friend and i have not been able to pay him back. I have been unemployed for 6 mths but just found a job. I was served papers for a civil law suit. he is suing me for the money, plus interest and also any security i have. i did not respond to the papers and i think it is too late now. it said respond in 20 days but i do not know if that is business days or just 20 days in general. i have heard i will get a default judgement for not responding. He is suing me for the money plus interest as well as any securities i have. Well, I don't have any money and and i do not own any property. i have more debt than i can handle from previous health problems. for awhile now, i have been thinking about filing for bankruptcy to get me out of this rut. would my friend be entitled to my car since he gave me the money (outright cash) for the car even though it is in my name? How long does filing for bankruptcy take and what is the cost process? I have about 17-20K in debt. I am thinking to get me back on track i should file bankruptcy. however, i would like to pay my ex-friend back at some point in time he just has not been flexible at all with my situation. thank you for your help.


Asked on 7/08/03, 6:25 pm

2 Answers from Attorneys
Cheryl Rivera Smith The Smith Law Firm

Re: Law suit, is Bankruptcy the answer?

If you are within the appeal period for your default judgment, you may be able to file an appeal. Contact an attorney for in your area for further advice. Many will give a free initial consultation.

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Answered on 7/09/03, 9:25 am
Eliseo Rico III The Law Office of Rico & Associates

Re: Law suit, is Bankruptcy the answer?

You are correct in stating the BK may be your only other solution; however, without more information on the judgement taken against it's unclear as to what exactly is the best way to proceed. I suggest to you contact an attorney for a consultation. If you have any further questions, please feel free to call.

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Answered on 7/09/03, 7:06 pm


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