Would it be best to ignore a judgement and file for Chapter 7 bankruptcy in the future if I haveno assets now?

UPDATED: Jul 2, 2012

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Would it be best to ignore a judgement and file for Chapter 7 bankruptcy in the future if I haveno assets now?

I have a judgement against me that I am unable to pay at the moment with no job/income coming in. I also, however, have other debts as well in collection which are increasing by interest. Would it be wise to ignore this judgement and file for bankruptcy later on? I received a letter not to long ago saying If I don’t respond to them asap they will be going back to court to enforce the judgement. I’m not sure what to do.

Asked on July 2, 2012 under Bankruptcy Law, Massachusetts


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

If you have little or no assets now and also have judgments and other debts against you which you simply cannot pay, then Chapter 7 is a good option. It will let you discharge or eliminate those debts at a comparatively low cost (since you don't have assets to liquidate). It will hurt your credit for a period of years, but not necessarily that much more than having defaults and judgments against you will. Below is a link to a very good website put out by the federal courts about how bankruptcy works; good luck.


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