Judgement Proof

November 28th, 2013 by Questions

I recently spoke with a Trustee who said I was not a good candidate for Bankruptcy as I am “Judgement Proof” She advised if my financial situation changes I could consider filing then. Is doing nothing a common alternative?

Posted from: Ontario

Questions

One Response to “Judgement Proof”



November 28, 2013 at 2:29 pm, A licensed trustee said:

Certainly – lots of people decide not to do anything until they have to and if you are judgement proof you may never have to. It is really a question of what you think tomorrow might look like. If you are on ODSP or some other form of disability pension and you are never likely to return to work then there may be no need for you to ever file for bankruptcy. You’ll have bad credit and probably never qualify for credit again, but frankly, you shouldn’t have any. The creditors may still call and send you letters, but if you can ignore them then doing nothing might work for you. If your situation changes you can always file bankruptcy at a later date.

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