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Credit card and unsecured debt question

I have a lot of debt, and got unsecured loans to cover it only to be upside down even more. This was back in 2006. I know that there is a Statute of Limitations and my state is 4 years for CC and 5 years for Unsecured Loans. After that the companies can't do anything to me. I got laid off a while back and haven't found a job yet, and my hubby doesn't make enough money to even cover everyday bills. My question is, If they put a judgement against me or him can the CC comp. and Unsec loans comp. garnish wages? We have no savings or assets.

Answer Question

Asked by Anonymous at 7:44 PM on Feb. 2, 2009 in Money & Work

Answers (2)
  • Have you considered bankrupcy for protection? That will protect you against garnishments, call an attorney.

    Answer by Anonymous at 9:19 PM on Feb. 2, 2009

  • If you are that far in debt, you may want to file for chapter 7 bankruptcy. That will protect your wages from being garnished and you can reaffirm the debts you want to keep like your home and car.

    Answer by younghyster2008 at 7:52 PM on Feb. 6, 2009

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