PostHeaderIcon I am considering filing bankrupcy, how much debt should I have to file. What are the pos and neg to chapter 7?


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I have roughly sixteen thousand in unsecured credit card debt and upside down eight grand in my car loan. I am maxed out on all my cards, several months late on my cards although they have not been written off yet, I am buried under late fees interest and cannot afford to pay anything on the principal.

Because of a few bad financial choices and losing my job in the housing market crash in Florida I am roughly thirty thousand dollars in debt. I am working two lesser jobs to try and make ends meat but am still drowning financially.
I have maxed out on personal loans from family and friends, have applied for and been denied debt consolidation loans and have no spouse or mate to help share the burden and I am left wondering if Filing bankrupcy for such a seemingly small amount is feasable and the right thing to do when left with no other options.

One Response to “I am considering filing bankrupcy, how much debt should I have to file. What are the pos and neg to chapter 7?”

  • S P says:

    Your best bet is to contact a local bankruptcy attorney, most will see you free the first visit. You’ll need to provide to them your last 6 months of pay stubs, your assets if any, list of all your debts and last 4 years of taxes. Once they review all of this, they can tell you what you qualify for. You will have to come up with a retainer fee, but an attorney will help you with advising what you won’t have to pay in order to come up with the retainer. Good Luck!

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