Creditors Can Take Your Lawsuit
One problem of having a judgment entered against you is that the creditor's attorneys can attack any lawsuit you have, or any claim which you may have in the future, against any third party. For example, if you have an unsatisfied judgment and you are subsequently injured because of someone else's negligence, you will likely seek a lawyer to sue the other party or their insurance company. If a pre-existing creditors finds out about your lawsuit, or even your claim before you hire an attorney to file suit, your judgment creditor can seize your right to sue. Thereafter, any compensation you might otherwise be entitled to collect because of your injury would go to your creditor to pay your judgment in full before you would see any money. Your potential claims and your lawsuits against others are important and sometimes valuable assets which must be covered in your asset protection plan.
Somebody please help!! I was injured and could not continue to work, so I could not make payments on my credit cards. I'm now totally disabled with lousy credit but I need clean credit to obtain a government guaranteed loan (financing) for a house. I receive SSI and a DAV pension. These credit card accounts have been open for 5-7 years. How can I have my past bad credit wiped out without having to file for bankruptcy?? Please contact me via my Email. Thank you! Scott Bates ScottIM12@yahoo.com