Once they take her to court and get a judgement they can put a lein on any real property – car, jewelry, etc. They can, with no notice, suck money out of checking and savings accounts, brokerage accounts and any other finanical assests (retirement assets are exepmt). They can levy her wages and take 50% to 65% of wages depending on the situation.
Rather than BK it would be better to try to negotiate a settlement with the card companies. Try starting with 20 cents on the dollar and removal of negative credit marks.
Use an attorney and threaten BK.
Do not use one of the “counselling” agenecies. They are funded by the card issuers and just try to get as much money out of people as they can.
