Legal Question in Credit and Debt Law in Virginia

Hi, \nI was just hit with a garnishment of my wages for $9,000 for a truck that I had reposed last year. The balance I owed after they sold it was 5,000 the rest is legal fees and court cost. Im looking into filing bankruptcy, but dont know much about it,My question 1 is, I was just served yesterday, 7/29/09 the next court date is December 18, 2009. Im paid biweekly...what is going to happen come December when this is not fully paid...being that they can only hold 25% of my check...also, I am a single mom...no child support coming in...would it be worth my wild to try and file a good faith hardship or just work towards bankruptcy.\n\nThanks,\nTerry Hamby


Asked on 7/30/09, 1:00 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Without knowing more regarding your personal financial situation, it would be difficult to assess which might be the better course for you. However, taking the "Obama approach" to this matter, i.e., without knowing all the relevant facts, I would hazard the fillowing "guesstimate": If all you owe is $4k and attendant fees/costs, bankruptcy is very likely not an option worth considering.

However, if your total personal debt (excluding any mortgage) is in the $15K to $20K range and your income is insufficient to pay it off any time soon, then you may wish to consider it(bankruptcy).

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Answered on 8/06/09, 11:44 am


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