If I have 3 unpaid default money judgments against me for credit card debt that are over 8 years old, can I still file bankruptcy for them now?

They total over $70,000 and the rest of my debts are over 7 years and have been charged off.I battled a drug addiction and an abusive relationship and fell into a deep depression and lost my job and everything back than. I should of filed for bankruptcy 8 years ago but never did and just ignored it. I don’t have any other debt except for those old debts. I have $30k in the bank, a car that’s paid off thats worth $20k and just lost my job again.

Asked on April 4, 2015 under Bankruptcy Law, California

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

Bankruptcy will affect all your debts (with certain restrictions that don't apply to your case: e.g. child support debts, debts arising from judgments against you for DUI/DWI), including those for which there are already judgments, so filing for bankruptcy can certainly help you against these old credit card debts. However, bear in mind that filing for bankruptcy will significantly negatively impact your credit rating, so if you may need to try to borrow, that is a concern to consider.


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