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only publishing my interpretation of my situation. You should seek your
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I got a voicemail today from the law firm that sued me
for unpaid condo association fees. They are requesting a
deposition. This will be my first deposition... although it will
most likely not be my last until I get all of my financial
problems fixed. I do not know all of the questions that these
lawyers will ask of me, but the jest of the meeting will be to
list out all of my assets and sources of income in an effort to
determine how my debt to the condo association can be paid. I
had hoped that the law firm and the condo association would only
put a lien against my condos, but they are apparently going to
do more than that. They are now, most likely, going to go after
my stocks and cash and wages. What to do? What to do?
I have not yet returned
the call to the law firm. I intend to call my lawyer first to
discuss my options with him. I will make that call to him first
thing in the morning and update my website with his answers. The
big questions from me though are the same ones that I had
earlier this month about my assets. What assets can these
lawyers take from me? Should I sell all of the assets like my
stocks that I can sell? Should I pay off this lawsuit case?
Should I pay off other debts such as student loans first?
I think I will definitely
be selling all of my stocks very soon although the stocks are
all down. I would most certainly take a loss on most of these
stocks, but that has a plus to it as well. If I sell these
stocks for a loss, I will not owe any income tax on the sales.
The next big question is what debts will I pay off first?
Neither of the condos
have finished foreclosure. Neither has even gotten a foreclosure
hearing date set so both will be in my name for at least sixty
more days. This means that the condo fees will still be placed
against me for that time. If I pay off the past due condo fees,
I might as well keep paying the condo fees each month until the
condos go back to the banks in foreclosure because the condo
association will just take me back to Small Claims Court time
after time after time.
I think I will most
likely take enough money to pay off my twelve thousand dollars
($12,000) in student loans first. Student loans cannot be
written off in a bankruptcy proceeding so I would owe that money
regardless of bankruptcy or not. That brings up another
question: Am I going to file bankruptcy? I have not decided to
file bankruptcy. I am trying to avoid that. How this deposition
goes will help me answer that question. I certainly hope it does
not as I would really like to avoid bankruptcy as I really do
think I will eventually find some way to pay off all of this
debt... I just need time, granted a lot of it, but still I just
need more time.
After I call my lawyer
tomorrow morning, I will call the other law firm and schedule a
time for the deposition. Hopefully, they will get it out of the
way quickly and let me do it sometime next week as I will be
home all next week. I am surprised that they even called and
asked to schedule a time. Small Claims Court and the foreclosure
hearing were non-negotiable dates from the courts.
I should have another
post out again tomorrow. It is sure to be interesting. Check
back or subscribe to be notified in an email. Also, please wish
me luck and pray for me. I could use all the help and Divine
intervention that I can get.
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