I Have No Income Own Nothing, Will They Sue Me?

Question

So after messing up my life real bad with plenty of awful decisions. I'm now living with my parents while going to school trying to better myself and hopefully get another chance at being a good person.

At the same time, I owe around 20000 dollars to several different creditors with the SOL date coming up in another year.

During this time, I am in school, no income, an no assett, will they sue me? I'm hoping they won't and just let me start my life again.

Answer 1

well does it matter if they sue you- how else can you be brought to account

Answer 2

Slimick is absolutely correct...good advice! They can't get anything from you if their is no income or no homes to attach leins...waste their time to garnish wages if there are none, and will be time barred from collecting when the statue of limitations run out....

Yes, if they can contact you and if you admit to the debt, they can and will sue you to get a judgement against you and can garnish wages if you are working before the SOL is up...they can try and sue you if the SOL is up and if that happens you would need to show up at the court to tell the judge it's time barred from collecting. If they receive a judgement against you, the only thing that will stop a garnishment is a bankruptcy. I'm not condoning it, but that's the only thing that will cease a garnishment from happening. Good Luck!

Answer 3

They could, but since you own nothing it wouldn't be financially feasible for them to do so.

Keep in touch with your creditors (in writing) and tell them that when you get a job, you will discuss the matter at that time.  However, if you can find about $50 to pay per creditor per month, that will keep them off your back and shows good faith on your part.  If you pay them something, you will have a better chance that they wil not "bother" you as much.  Cuz if you do eventually go to court, and you paid something, you will fare better.  Also, if you did get a job and didn't tell them, they will eventually attach your pay.  They will know when you file your taxes.

Something else, if your original creditor sells the debt to another collector, you can pay them whatever you can (that is reasonable) and they HAVE to take that payment.  No buts about it.

Once you do get on a payment plan, make sure they send you an annual report showing you how much the total debt you owe is, interest rate and all payments they have received.  They must do this by law, but some won't, so make sure to request it.  ALL communication should be done in writing!

FYI  They will not garnish your wages if you make payment arrangements with them.  They are not allowed by law if you are making payments.

Answer 4

I agree with Studly.  If you have no income and no assets, then you are judgment proof so there isn;t much they can do.  BUT, they can still file paperwork to seek a judgment before the SOL expires.

If you receive a court appearance notice DO NOT ignore it! The only way to protect yourself is to appear in court and present the judge with your side of the story. Go to court prepared to show your good faith efforts in resolving the issue or, in asking for relief in the case of an expired statute of limitations.

If you receive a notice that a default judgment has been issued against you, and you were not aware of the court date, immediately go to the court and request copies of all the paperwork. Look for any mistake or misinformation such as an old or wrong address. If you find something wrong contact an attorney and ask for a rehearing. If you can show that you were not given due process, the judge might just overturn the judgment and then require the collector to file the case properly.

You may be considered "Judgment Proof" during periods of unemployment or while drawing disability pay or disability retired pay. Also, if you have no assets such as home, car, land, and other big-ticket items. In other words, you have no money and can prove it!

Never ignore a lawsuit just because you are broke or have no assets! If a debt collector or creditor is trying to sue and you believe that you are judgment proof, you must respond to the lawsuit as such. Failure to appear and show the judge why you are judgment proof opens the door for the judge to grant the collector a "default judgment".

Even though they cannot collect anything from you now, they can wait many years and try again. Also, the judgment will show up on your credit report.

Hope this answers your question

LEGAL DISCLAIMER:  The advice contained herein is for informational purposes only.  It is not to be construed as Legal Counsel nor Legal Advice.

Answer 5

Ya'know....the Yahoo Police are on me about criticizing people's answers.  But this is an example of why I do it!

Lets take this slowly....

Will they sue you?  Generally if the debt is less then $500 they don't mess with it.  Only when it approaches $2000 do they pay attention.  And if the collection agency happens to be located in your area, that increases the chances.  They don't want to hire an outside agency or attorney to sue you if they can help it.  

At this time, you are considered "judgment proof".  But be aware that there is a growing number of agencies who specialize in collecting on judgments.  They will purchase them as an investment, because judgments will continue to earn interest.  After several years they will pull your credit report and take a peak at your current situation...and if you are working they will start garnishment.  

But this scenario is the exception...not the rule.  As long as you don't owe a large amount to a single creditor you should be safe.

Now, you also mention you are aware of the SOL laws, and you are only a year away from these debts running out.  My opinion....keep an eye on your court to make sure they don't try to sneak a default judgment on you.....and sit tight.  They may just go away by themselves.  

But whatever you do....DO NOT pay them a dime yet!

Answer 6

Yes they can...but it's pointless on their part as long as you remain unemployed and without assets. If there are no wages to garnish, getting a judgment would be a waste of time.