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Reply #11: Also, if you don't have a job or house, you're judgment-proof. [View All]

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backscatter712 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-08-11 11:30 AM
Response to Reply #9
11. Also, if you don't have a job or house, you're judgment-proof.
In order for them to seize your assets, you've got to have assets to seize.
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  -Debtor's Revolution: Are Debt Strikes Another Possible Tactic in the Fight Against the Big Banks? marmar  Nov-08-11 07:24 AM   #0 
  - Won't this just jack up people's rates and have their access to debt cut off?  dkf   Nov-08-11 07:42 AM   #1 
  - If you refuse to pay, who gives a shit what the interest rate is?  Fuddnik   Nov-08-11 09:13 AM   #2 
  - Well if you never want another loan because you have cash then that is fine.  dkf   Nov-08-11 09:56 AM   #3 
     - I've been mentioning this for years as a another possible  socialist_n_TN   Nov-08-11 10:08 AM   #4 
     - What kind of rates did you get?  dkf   Nov-08-11 10:12 AM   #5 
     - I've done a bankruptcy 8 years ago.  MedicalAdmin   Nov-10-11 01:46 PM   #28 
     - It is just bullshit.  intheflow   Nov-08-11 10:57 AM   #8 
     - Exactly - it's another version of the "This'll be on your permanent record!" scare tactic.  backscatter712   Nov-08-11 05:13 PM   #18 
     - dkf there will always be credit unions.  tcaudilllg   Nov-10-11 06:49 AM   #22 
  - And we're not having our interest rates jacked and access to debt cut already?  backscatter712   Nov-08-11 10:46 AM   #6 
  - That is the real point.  bemildred   Nov-08-11 10:48 AM   #7 
     - thank you for that reminder n/t  grasswire   Nov-08-11 01:31 PM   #15 
  - Well I have already done a version of this,  TBF   Nov-10-11 02:08 PM   #29 
  - won't they just sue you and get a judgement against you & garnish your wages? n/t  yodermon   Nov-08-11 11:13 AM   #9 
  - That's when you get creative and move your money around so they can't get at it.  backscatter712   Nov-08-11 11:29 AM   #10 
  - Also, if you don't have a job or house, you're judgment-proof.  backscatter712   Nov-08-11 11:30 AM   #11 
  - Also, other ways to game this: Have groups of strikers skip one payment.  backscatter712   Nov-08-11 11:48 AM   #12 
  - I really thought about it a fw weeks ago.  Fuddnik   Nov-08-11 12:34 PM   #13 
  - Well Played!  Sherman A1   Nov-08-11 04:41 PM   #17 
  - thx for the replies, backscatter. I like the idea of "rolling non-payment strike"  yodermon   Nov-08-11 09:44 PM   #19 
  - That's what the bankruptcy laws are for  socialist_n_TN   Nov-08-11 03:38 PM   #16 
  - that's a rally point against pols who support garnished wages laws.  tcaudilllg   Nov-10-11 06:50 AM   #23 
  - be sure to read the comments section  grasswire   Nov-08-11 01:29 PM   #14 
  - some friends and i have been talking about this  rapturedbyrobots   Nov-08-11 11:36 PM   #20 
  - Won't work for me.  Ilsa   Nov-10-11 05:58 AM   #21 
     - The main point of this is that we've allowed ourselves to become dependent on the wrong people.  tcaudilllg   Nov-10-11 06:51 AM   #24 
     - Not if you do a BK before they get the judgment  socialist_n_TN   Nov-10-11 09:16 AM   #25 
        - Moving out of state. House has to be sold. We have lots of equity in it.  Ilsa   Nov-10-11 11:29 AM   #26 
           - In your case, then don't do it. At least not on that particular  socialist_n_TN   Nov-10-11 01:26 PM   #27 
 

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