Should I file for bankruptcy if I think my creditors still cannot collect? 3 Answers as of November 07, 2010I owe more debt than my property is worth. I do not think my assets will be able to provide my creditors with the amount of money they need. What should I do? Should I still file for Chapter 7 and have a longer payment schedule?
Greifendorff Law Offices, PC | Christine Wilton
Remember that unsecured creditors can file a lawsuit against you to collect on the debts. Once they obtain a judgment in a Court of law, they can begin garnishing your wages and place judgment liens on the property.
Answer Applies to: California