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What is a Judgement-Proof Bankruptcy?

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You are judgement-proof when, under the laws of Montana, a judgment creditor has no practical ability to force payment of the judgment. You have no non-exempt assets and your income stream consists solely of exempt income (retirement income, social security, or the like).

Even if you are considered Judgement Proof in the state of Montana, it might still be a good idea to pursue bankruptcy for these three reasons:

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Jim Cossitt Wins UFTA Case

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On February, 13, 2013, in a one-day bench trial in Lincoln County District Court, Jim Cossitt, representing Larson Lumber Company(Larson),  obtained judgment against Bilt Rite Construction and Landscaping LLC, Yaak River Contracting, Inc, Anita Bartz and Casey Rankin (Defendants).

Larson asserted claims under both the: 1) actual fraud; and 2) constructive fraud prongs of the Uniform Fraudulent Transfer Act (UFTA), after Bilt Rite Construction and Casey Rankin failed to repay debts owed for purchased goods then resumed business under a new name in an ...

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Illegal Debt Collection Practices

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In 2010, more than 140,000 debt collection complaints were filed with the Federal Trade Commission, which has caused federal authorities to step up scrutiny of collectors. In reality, additional regulation and oversight won’t provide immediate relief for consumers being harassed or abused. However, it helps to know your rights under the Fair Debt Collection Practices Act (FDPCA) so you can take appropriate steps to protect yourself against illegal debt collection practices.

Some forbidden practices ...

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