what happens to all your debts and bill when you go to jail?

[vital]

if you had credit card debt, loans, mortgage payments, cell phone contract, etc. what happens when you have to go to prison for like 5 years? or what if it's 25 years? i'm not going to prison but i was just wondering.

 

[DrumminBoy]

Don't they put it on your family?

 

[Tylanner]

forms a giant sh!tstorm

 

[wedi42]

you probably get free legal assistance to file bankruptcy

 

[Goosemaster]

Rights to collection get transfered to a large tank-like fellow named Earl two cells down from you, and he aims to collect.

 

[jadinolf]

Originally posted by: DrumminBoy
Don't they put it on your family?

NO!

 

[compuwiz1]

I'm sure if you went to prison and had no provision for your mortgage to be paid, your lender would forclose.
Not sure if they can collect other bills while you are encarcerated. Credit cards, I would think, would just get charged off. One thing for sure....you'd come out of prison with bad credit, unless you were in there for 10 years plus, then you would be a credit ghost....no trace of you. :Q

They cannot force family to pay debt they did not create. That's a fallacy.

 

[jadinolf]

Originally posted by: Goosemaster
Rights to collection get transfered to a large tank-like fellow named Earl two cells down from you, and he aims to collect.

I thought it was Leroy. 😀

 

[Conky]

Originally posted by: johngute
you probably get free legal assistance to file bankruptcy

Why would you bother to file for bankruptcy? What could your creditors do to you? Put you in "debtors prison"? :laugh:

The creditors are forced to write off the debts unless you make arrangements to pay your bills.

 

[Baked]

They'll be here waiting for you when your ass gets out of jail.

 

[Goosemaster]

Originally posted by: jadinolf

Originally posted by: Goosemaster
Rights to collection get transfered to a large tank-like fellow named Earl two cells down from you, and he aims to collect.

I thought it was Leroy. 😀

My mistake😀

 

[Vic]

Originally posted by: DrumminBoy
Don't they put it on your family?

Did the family sign for the debts? :roll:

Typically, I would imagine that the inmate files bankruptcy. The inmate is still responsible for his debts even if in prison. The spouse may also be responsible (especially in common law states or if he/she co-signed), but no other family member is going to be responsible unless they co-signed.
Creditors write off a considerable amount of bad debt every year, which the rest of us all pay for as part of our interest rates.

 

[Perknose]

Originally posted by: Goosemaster

Originally posted by: jadinolf

Originally posted by: Goosemaster
Rights to collection get transfered to a large tank-like fellow named Earl two cells down from you, and he aims to collect.

I thought it was Leroy. 😀

My mistake😀

Yeah, they call him Bad, Bad Leroy Brown even though that's not his last name and he's more of a lover than a fighter. 😉

 

[TBone48]

Sometimes I laugh at the thread titles, then I realize it's a really interesting topic/question. This is one of those times.:beer:

 

[jadinolf]

Originally posted by: Perknose

Originally posted by: Goosemaster

Originally posted by: jadinolf

Originally posted by: Goosemaster
Rights to collection get transfered to a large tank-like fellow named Earl two cells down from you, and he aims to collect.

I thought it was Leroy. 😀

My mistake😀

Yeah, they call him Bad, Bad Leroy Brown even though that's not his last name and he's more of a lover than a fighter. 😉

I wouldn't know- never been in prison. 😉

 

[MX2]

Depends on how long you are put away for I would imagine