Hi,
I posted previously in askaboutmoney about a debt that the county sheriff is pursuing from a cousin of mine. The person has very little assets of value that would interest the sheriff I'd imagine as everything is in husbands name like car etc so I presume they can't be touched.
The debt is quiet small compared to what I have been reading here. The house is paid so no mortgage involved so it's just this one judgement that is really outstanding - I think it around 40K which she has no hope of paying.
I mentioned that maybe she should should go down the road of talking to a PIP so see what her options were in terms of bankruptcy or personal insolvency arrangement.
As the husband is self employed she is afraid it would effect his business going forward if she went down the bankruptcy route....would only ever generate a small profit I'd imagine.
Would my advice to talk to a PIP be recommend or should she just ignore the judgement as there is nothing the sheriff can get anyway and he will just go away?
She has spent a lot of money on the legal route and it just seem to be going nowhere but costing her more all the time.
Would appreciate any comments on what she should consider at this stage in terms of personal insolvency options. There would be a lot of bad blood between the debtor and creditor if that makes any difference.
I posted previously in askaboutmoney about a debt that the county sheriff is pursuing from a cousin of mine. The person has very little assets of value that would interest the sheriff I'd imagine as everything is in husbands name like car etc so I presume they can't be touched.
The debt is quiet small compared to what I have been reading here. The house is paid so no mortgage involved so it's just this one judgement that is really outstanding - I think it around 40K which she has no hope of paying.
I mentioned that maybe she should should go down the road of talking to a PIP so see what her options were in terms of bankruptcy or personal insolvency arrangement.
As the husband is self employed she is afraid it would effect his business going forward if she went down the bankruptcy route....would only ever generate a small profit I'd imagine.
Would my advice to talk to a PIP be recommend or should she just ignore the judgement as there is nothing the sheriff can get anyway and he will just go away?
She has spent a lot of money on the legal route and it just seem to be going nowhere but costing her more all the time.
Would appreciate any comments on what she should consider at this stage in terms of personal insolvency options. There would be a lot of bad blood between the debtor and creditor if that makes any difference.