Can't Pay Back Cash Advances

by Larry
(NJ)

I am 83 and took some cash out and cant pay I went to a attorney he said they cant do anything but if I cant stand the calls then think of bankruptcy I do not own any thing of real value now I went another and he said bankrupt and no other advice except borrow money to pay him the cards are all current but will have trouble soon.

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May 11, 2011
 Debts Can't Pay
by: DebtCollectionAnswers.com

Larry,

It sounds like the attorneys can do something - they can help you file for bankruptcy so you don't have to worry about this anymore. Is there a reason you don't want to go that route?

If you can't or won't file for bankruptcy, then the next question is: Did you specifically ask these bankruptcy attorneys if you are judgment proof? If you are, then essentially there is nothing they could do to collect from you even if they successfully sued you.

Consumers who are judgment proof sometimes take the approach of writing to a debt collector (after the account has been turned over to collections) and asking them to stop contacting them. You can read our information about using a cease and desist letter to stop a debt collector to understand this approach.

please keep in mind that sending a cease contact letter will not stop a debt collector from suing you. However, if you explain to them that you have met with a bankruptcy attorney and you are judgment proof, they may (or may not) decide it's not worth their time and money to sue to try to collect the debt.

you may want to go back to the bankruptcy attorneys that you spoke with and ask them whether you are judgment proof, and whether it makes sense for you to try this approach if you can't afford to file for bankruptcy right now.

We are sorry to hear that things are so rough for you right now, and we hope they turn around.

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