Suwanee, GA Bankruptcy Law Firms & Lawyers

You probably have a few more options than you think. 1. You most likely were served with a civil summons-this means a creditor is suing you. You can choose to respond but you probably only have 30 days to file a written answer with the court. Check the paperwork to confirm the deadline for filing a response. Then call or visit the courthouse's self help center they can assist you in filing the answer and filling out a claim of exemption to protect your assets. If you respond by generally denying everything, this means you are putting the creditor to their burden to prove the facts of their case. This also buys you a bit of time so you can figure out what to do. 2. You should go consult with a bankruptcy attorney. We all offer free consultations. If you owe other debt, a bankruptcy might help you to eliminate all the debt and you won't even have to file a response, the bankruptcy will stop the lawsuit. 3. You can choose to do nothing. Some people are what we call judgment proof. This means even if the creditor were to get a judgment against you, they can't collect. This would only apply if you had a low amount of assets, no job and no money. You said you are low income this probably means you have a job so if you do have a job & the creditor wins at trial or by default the creditor can garnish up to 25% of your pay check each pay period until the debt is paid in full. If you own property they could record a lien against it or if you have bank accounts they could get levied.

Since your husband co-signed the loan with his mother he is equally liable for any default on the payment of the loan. The creditor can sue and obtain a judgment against your husband. From there, the judgment creditor will attempt to collect, including garnishing your husband's wages and seizing funds held in bank accounts. As long as his name is on the asset they are pursuing, regardless of whether yours is also on it, they will have the right to seize it. Your husband is entitled to various property exemptions under NRS 21.090. A detailed discussion of this situation is highly recommended to assure that the information provided in this statement accurately addresses your specific legal issues. I highly recommend a more detailed consultation with an attorney to fully advise you in this matter.